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- NZD / USD tests MA (200) H1 resistance
NZD / USD tests MA (200) H1 resistance
The NZD / USD pair rose from $0.7170 to $0.7220 in European trading and is testing the MA (200) H1 ($0.7210) moving average line on the hourly chart. On the four-hour chart, the pair is trading slightly above MA (200) H4 ($1.7170). Technically speaking, the $0.7220 resistance may keep prices from rising further. If it breaks through, prices may rise to $0.7270. The lower bound of $0.7170 represents the support level. The most likely range of price movement for today may be hidden within the range of $0.7170-0.7220
⦁ Resistance levels are: $0.7220, $0.7270, $0.7305
⦁ Support levels are: $0.7170, $0.7135-50, $0.7115
The main scenario for the pair's promotion - breakout of the session high of $0.7220, and there may be a rise to $0.7270 (May 18 high)
An alternative scenario - breakout of the session low of $0.7170 and may be a decline to $0.7135-50 (May 13 and 19 lows)
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