Technical analysis

18 September 2020

20:18 NZD / USD is trading above MA (200) H1

Today, since the start of trading, the NZD/USD pair rose to the highest value since the end of July 2019 ($0.6795), but soon fell slightly to $0.6765 and is trading near the highs since the beginning of September . On the hourly chart, the pair is trading above MA (200) H1 ($0.6695) and on the four - hour chart-above MA (200) H4 ($0.6640). A strong resistance level of $0.6790-95 may keep NZD / USD from further growth. If it breaks through, the price may rise to $0.6840. The $0.6660 level represents support. If this level is passed, the pair may follow a correction to $0.6675-95. The most likely range of price movement today may be hidden within the range of $1.6675-1.6795.


Resistance levels are at: $0.6790-95, $0.6840, $0.6925

Support levels are at:  $0.6760, $0.6675-95, $0.6640


The main scenario for the pair's promotion - growth to $0.6790-95 (high of July 19-22’ 2019, September 2 high, session high), and then, possibly, the pair's growth to $0.6840 (high of April 1’ 2019)

An alternative scenario - support breakout of $0.6760 (September 16 high) and likely decline to $0.6675-95 (September 17 low, MA (200) H1)

NZD / USD is trading above MA (200) H1 18.09.2020

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