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- NZD/USD is declining and testing MA (200) H1
NZD/USD is declining and testing MA (200) H1
Today, the NZD/USD pair is trading with a decline from $0.6980 to $0.6935 after rising yesterday to the psychological level of $0.7000. On the hourly chart, the pair is testing the moving average line MA (200) H1 ($0.6935), on the four-hour chart it remains above MA (200) H4 ($0.6810). Technically speaking, the $0.7000 resistance level can keep prices from rising. The lower bound of $0.6865-75 represents the support level.
⦁ Resistance levels are: $0.7000, $0.7050, $0.7080
⦁ Support levels are: $0.6865-75, $0.6795, $0.6730
The main scenario for the pair's promotion — the resistance breakout is $0.7000 (March 30 high) and there may be an increase to $0.7050 (November 18 high)
An alternative scenario — support breakthrough of MA (200) H1 ($0.6930) and there may be a decline to $0.6865-75 (March 8-9 lows)
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