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- NZD / USD remains above MA (200) H4
NZD / USD remains above MA (200) H4
Today, the NZD/USD pair is trading in the range of $0.7225-90, having retreated at the end of last week from a three-year high of $0.7465. On the hourly chart, NZD / USD is trading slightly below the MA (200) H1 moving average line ($1.7300), but on the four-hour chart it remains above MA (200) H4 ($0.7220). Technically speaking, the session low of $0.7225 may keep prices from falling further. If it breaks through, the pair may fall to $0.7135-55. The session high of $0.7290 and the MA (200) H1 ($1.7300) represent the resistance level. The most likely range of price movement for today may be hidden within the existing range of $0.7225-$0.7300
⦁ Resistance levels are: $0.7290-0.7300, $0.7380, $0.7465
⦁ Support levels are: $0.7225, $0.7135-55, $0.7105
The main scenario for the pair's promotion - correction and may be an increase to the session high of $0.7290 and MA (200) H1 ($1.7300)
An alternative scenario - breakout of support $0.7225 (February 26 low, session low) and maybe a decline to $0.7135-55 (February 2, 5, and 17 lows)
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