NZD/USD currency pair is corrected as of 01.11.2019
15:20 NZD/USD pair is corrected
The NZD/USD pair has grown sharply since the beginning of trading from $0.6405 to 0.6440, but soon it fell slightly and trades near the maximum on October 22 $0.6435. NZD/USD rose above the MA (200) H1($0.6385) moving average, and on the four-hour chart above MA (200) H4 ($0.6325). In this situation, it is worthwhile to start sticking to the northern direction of trading and look for entry points to buy.
- Resistances are at: $0.6440-50, $0.6475, $0.6500
- Support levels are located at: $0.6385-90, $0.6330, $0.6280
The main scenario for the pair to move forward is a breakthrough of support at $0.6440-50 (maximum on September 6-12, session high) and an increase of $0.6475 (maximum on August 12)
Alternative scenario – correction and decrease to $0.6385-90 (minimum on October 31, MA (200) N1)