NZD/USD corrects downwards

On the hourly chart, the NZD/USD pair is correcting downwards after reaching a local maximum in the area of 0.6120. The price has overcome the short-term support at 0.6086 and is currently testing the 0.6060 zone. The nearest important support is the 0.6030 area, where the MA (200) H1 moving average also runs, and its breakdown may increase pressure on the pair with targets in the 0.6000 and 0.5960 areas. The MACD indicator indicates the development of a downward momentum: the histogram goes into a negative zone, the indicator lines are directed downwards, which confirms the dominance of sellers. However, as long as the price remains above the moving average of (200) H1, there is a possibility of a resumption of growth. To restore the bullish momentum, the pair needs to return above 0.6085, which will pave the way for a retest of the 0.6120 resistance. The overall technical picture indicates the beginning of a correction phase within the framework of an uptrend, with the 0.6030 zone acting as the key level to confirm the change of direction.

Resistances are at the marks: 0.6085, 0.6120, 0.6150

An alternative scenario: 0.6030, 0.6000, 0.5960

The main scenario of the pair's movement implies a breakout of the resistance of 0.6085 (June 16 high) and there may be an increase to 0.6120 (July 1 igh)

An alternative scenario suggests a decline to 0.6030 (June 26 low) and then maybe to 0.6000 (June 25 low)