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- Technical Analysis
- NZD / USD retreated from a three-year high
NZD / USD retreated from a three-year high
Today, the NZD/USD pair continues the decline that began during yesterday's US trading. The pair declined to $0.7250, after a sharp rise yesterday to a three-year high of $0.7465. On the hourly chart, NZD / USD is testing the MA (200) H1 moving average line ($1.7295) and remains above MA (200) H4 ($0.7215) on the four-hour chart. Technically speaking, a session low of $0.7250 may keep prices from falling further. If it breaks through, the pair may fall to $0.7200. The session high of $0.7380 represents a resistance level. The most likely range of price movement for today may be hidden within the existing range of $0.7250-$0.7380
⦁ Resistance levels are: $0.7380, $0.7465, $0.7500
⦁ Support levels are: $0.7250, $0.7200, $0.7135-55
The main scenario for the pair's promotion - correction and may be a rise to the session high of $0.7380
An alternative scenario - breakout of the session low of $0.7250, maybe a decline to $0.7200 (February 19 low)
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