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- NZD / USD remains below MA (200) H1
NZD / USD remains below MA (200) H1
The NZD/USD pair is trading in the range of $0.7160-85 and remains below the MA (200) H1 ($0.7200) moving average line on the hourly chart. On the four-hour chart, the pair is testing 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 $0.7135 represents the support level. The most likely range of price movement for today may be hidden within the range of $0.7135-0.7220
⦁ Resistance levels are: $0.7200-20, $0.7270, $0.7305
⦁ Support levels are: $0.7135-50, $0.7115, $0.7065
The main scenario for the pair's promotion - breakout of $0.7200-20 (May 20-21 highs, MA (200) H1, and may be an increase to $0.7270 (May 18 high)
An alternative scenario - breakout of the support $0.7135-50 (May 13, 19 and 21 lows) and may be a decline to $0.7115 (May 4 low)
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