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- NZD/USD is under pressure
NZD/USD is under pressure
On the hourly chart, the NZD/USD pair is under pressure after a steady breakdown below the 0.6030 level and the MA (200) moving average, which confirms the development of a downward momentum. The price has dropped to the 0.5990 support and is trading near it, showing weak attempts at a rebound. The MACD indicator is in a deep negative zone, confirming the strength of the bearish movement and the absence of signs of a reversal. The nearest support is located at 0.5990, its breakdown will open the way to the next target in the area of 0.5960. The resistance is now in the 0.6030 area, and only a return above this level will weaken the current downward scenario. The overall picture remains in favor of sellers, especially if the price remains below the moving average and there is an increased downward signal from the indicators.
Resistances are at the marks: 0.6030, 0.6060, 0.6095
An alternative scenario: 0.5990, 0.5960, 0.5880
The main scenario of the pair's movement implies a breakout of the session low of 0.5990 and there may be a decline to 0.5960 (June 19 low)
An alternative scenario assumes a breakout of 0.6030 (July 3 low) and there may be an increase to the session high of 0.6060
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