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- NZD/USD is trading near a monthly high
NZD/USD is trading near a monthly high
Today, the NZD/USD pair is mainly declining from $0.6240 to $0.6190 - near the monthly high of $0.6245 reached on Friday. On the hourly chart, the pair rose above the MA (200) H1 moving average line ($0.6145). On the four-hour chart, the pair is testing MA (200) H4 ($0.6180). Technically speaking, the resistance level of $0.6245 can keep the pair from further growth. The lower bound of $0.6145-55 represents the support level.
Resistances are at the marks: $0.6245-70, $0.6305, $0.6385
An alternative scenario: $0.6145-55, $0.6105, $0.6030
The main scenario of the pair's movement assumes a breakout of the resistance of $0.6245-70 (May 17 and June 16 highs) and there may be an increase to $0.6305 (May 19 and 23 highs)
An alternative scenario implies a breakout of the support of $0.6145-55 (June 15 low, MA (200) H1) and there may be a decline to $0.6105 (June 12-13 low)
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