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- NZD/USD is trading above MA (200) H1
NZD/USD is trading above MA (200) H1
Today, the NZD/USD pair is trading in the range of $0.6760-90 and on the hourly chart has risen above the MA (200) H1 moving average line ($0.6740). The situation is similar on the four-hour chart. Technically speaking, the resistance level of $0.6810-20 may keep prices from further growth. The lower bound of $0.6740 represents the support level.
⦁ Resistance levels are: $0.6810-20, $0.6890, $0.6955
⦁ Support levels are: $0.6740, $0.6675, $0.6630
The main scenario for the pair's promotion — resistance breakout is $0.6810-20 (January 17-20 and February 23 highs) and there may be an increase to $0.6890 (January 13 high)
An alternative scenario — if the support of $0.6740 (March 1-2 low, MA (200) H1) is broken, the pair may fall to $0.6675 (February 28 low)
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