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- NZD/USD is testing MA (200) H1
NZD/USD is testing MA (200) H1
Today, the NZD/USD pair is trading in the range of $0.6155-85 and is testing the MA (200) H1 moving average line ($0.6175) on the hourly chart. The situation is similar on the four-hour chart. Technically speaking, the support level of $0.6130 may keep the pair from further decline. The upper limit of $0.6245-70 represents the resistance level.
Resistances are at the marks: $0.6205, $0.6245-70, $0.6305
An alternative scenario: $0.6130, $0.6105, $0.6030
The main scenario of the pair's movement assumes a breakout of the resistance of $0.6205 (June 20 high) and there may be an increase to $0.6245-70 (May 17 and June 16 highs) The alternative scenario implies a breakout of the support of $0.6130 (June 20 lows) and there may be a decline to $0.6105 (June 12-13 low)
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