NZD/USD remains above MA (200) H1

Today, on the hourly chart, the NZD/USD shows an upward movement, having recovered from the previous downward trend. The pair is mainly growing from 0.5705 to the current price of 0.5740. NZD/USD has gained a foothold above the MA (200) H1 moving average line (0.5670), which confirms the trend change to bullish. The MACD histogram is positive, indicating an increase in the upward momentum. If the growth continues, this may confirm a further upward movement.

As long as the price remains above MA (200) H1, continued growth is likely. To confirm the upward movement, it is necessary to consolidate above 0.5770.

In the case of a pullback to the support (0.5695 – 0.5670), purchases can be considered if there are confirmation signals.

Resistances are at the marks: 0.5760-70, 0.5790, 0.5820

An alternative scenario: 0.5695, 0.5670, 0.5635

The main scenario of the pair's movement suggests an increase to the area of 0.5760-70 (Feb 21 and March 6 highs ) and then maybe to 0.5790 (Dec 17 high).

An alternative scenario implies a decline to 0.5695 (March 7 low) and then maybe to MA (200) H1 (0.5670)