NZD/USD remains above MA (200) H1

On the hourly chart, the NZD/USD pair stabilized near the 0.6030 level after steady growth last week, remaining above the MA (200) H1 moving average, which indicates a continuing upward trend. The key support is located at 0.6020, and its breakdown may strengthen the downward movement and lead to a test of the 0.5985 zone. Resistance is still holding near 0.6055, and overcoming it will open the way to 0.6080. At the same time, the market is showing signs of local overbought, and the current correction looks like an attempt to unload.

The MACD is in the negative zone and continues to decline, which indicates a possible attenuation of the upward momentum and increased selling pressure. However, as long as the price remains above the moving average and has not overcome the nearest support, the bulls still have chances to resume growth. A strengthening above 0.6055 will confirm the continuation of the uptrend, and a breakdown of 0.6020 will be the first signal for a deeper correction.

Resistances are at the marks: 0.6055, 0.6080, 0.6110

An alternative scenario: 0.6020, 0.5990, 0.5945

The main scenario of the pair's movement implies a breakout of 1.6055 (June 3 high) and there may be an increase to 0.6080 (June 5 high) 

An alternative scenario suggests a breakout of the session low of 0.6020 and there may be a decline to 0.5985-90 (June 3 low, MA (200) H1)