NZD/USD dropped below MA (200) H1

There is a steady downward movement on the NZD/USD hourly chart today after an unsuccessful attempt to consolidate above the 0.5930 level. The price continues to decline and is currently trading near the 0.5875 mark, being under pressure below the MA (200) H1 moving average (0.5930), which confirms the predominance of bearish sentiment. The nearest support level is at 0.5870, followed by a more significant zone around 0.5845. Resistance is located at the levels of 0.5915 and 0.5930, and higher - in the area of 0.5970 and 0.5975. The MACD indicator indicates an increase in the downward momentum — the histogram drops below zero, and the indicator lines are pointing down, which confirms the dominance of sellers. If the price manages to confidently break through the 0.5870 level, it will open the way to the next target in the area of 0.5845. With a rebound from the current levels, growth may be limited to resistance in the area of 0.5915–0.5930. The technical picture remains bearish, and with no signs of a reversal, the priority remains for sales.

Resistances are at the marks: 0.5915, 0.5930, 0.5970-75

An alternative scenario: 0.5870, 0.5845, 0.5755

The main scenario of the pair's movement implies a breakout of the session low of 0.5870 and there may be a decline to 1.5845 (May 12-13 low) 

An alternative scenario assumes a breakout of the session high of 0.5915 and MA (200) H1 and there may be an increase to 0.5970-75 (May 8 and 14 highs)