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- NZD/USD is growing and testing MA (200) H1
NZD/USD is growing and testing MA (200) H1
Today, the NZD/USD pair rose from $0.6305 to a weekly high of $0.6375 after reaching a new 2-year low ($0.6215) last week. On the hourly chart, the pair is testing the moving average line MA (200) H1 ($0.6330), but on the four-hour chart it remains below MA (200) H4 ($0.6635). Technically speaking, the resistance of $0.6380 may keep prices from rising further. The lower bound of $0.6215 represents the support level.
⦁ Resistance levels are: $0.6380, $0.6460, $0.6570
⦁ Support levels are: $0.6330, $0.6275, $0.6215
The main scenario for the pair's promotion — correction, support breakout of $0.6275 (May 10 low) and there may be a decline to $0.6215 (May 12 low)
An alternative scenario — resistance breakout is $0.6380 (May 11 high) and there may be an increase to $0.6460 (May 6 high)
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