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- NZD/USD remains in consolidation phase
NZD/USD remains in consolidation phase
On the hourly chart, the NZD/USD pair remains in the consolidation phase after rising, reaching resistance around 0.6120. The current price is hovering around the 0.6068 level, remaining above the MA (200) H1 moving average, which indicates a continued medium-term upward momentum. However, recent candlesticks are showing signs of weakening bullish pressure. The support at 0.6049 keeps the quotes from further decline, and its breakdown may open the way to 0.6000 and further to 0.5960. Resistance remains at 0.6095 and 0.6120, where local highs were previously observed. The MACD indicator shows a negative histogram and the absence of directional movement, which confirms the flat dynamics. With the current neutral background and narrowing volatility, either a continuation of the sideways movement or a downward correction to 0.6050–0.6000 is possible in the near future.
Resistances are at the marks: 0.6095, 0.6120, 0.6150
An alternative scenario: 0.6050, 0.6000, 0.5960
The main scenario of the pair's movement implies a breakout of the session high of 0.6095 and there may be an increase to 0.6120 (July 1 high)
An alternative scenario assumes a breakout of the support 0.6050 (July 2 low) and there may be a decline to 0.6000 (June 25 low)
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