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- NZD / USD fell below MA (200) H1
NZD / USD fell below MA (200) H1
Today, the NZD/USD pair is trading in the range of $0.7125-50 after a sharp decline on Friday from $0.7215 to $0.7115. On the hourly chart, the pair fell below the MA (200) H1 moving average line ($0.7190). On the four-hour chart, the situation is similar. Technically speaking, the support level of $0.7115-25 may keep prices from falling further. The upper bound of $0.7215 represents the resistance level. The most likely range of the pair's movement for today may be hidden within the range of $0.7115-0.7215.
⦁ Resistance levels are: $0.7165, $0.7215, $0.7240
⦁ Support levels are: $0.7115-25, $0.7050, $0.7000
The main scenario for the pair's promotion - breakout of the support of $0.7115-25 (June 3 and 10 lows, session low) and may be a decline to $0.7050 (April 14 low)
An alternative scenario - if the resistance of $0.7165 (June 10 low) is broken, the pair can rise to $0.7215 (June 9-11 high)
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