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- NZD/USD remains slightly below MA (200) H1
NZD/USD remains slightly below MA (200) H1
Today, the NZD/USD pair is trading in the range of $0.6140-80 after falling on Friday to a weekly low of $0.6115. On the hourly chart, the pair dropped slightly below the MA (200) H1 moving average line ($0.6190). On the four-hour chart, the pair is testing MA (200) H4 ($0.6160). Technically speaking, the support level of $0.6105-15 may keep the pair from further decline. The upper limit of $0.6220 represents the resistance level.
Resistances are at the marks: $0.6190, $0.6220, $0.6245-70
An alternative scenario: $0.6105-15, $0.6030, $0.5985
The main scenario of the pair's movement assumes a breakout of the resistance of $0.6190 (June 23 high) and there may be an increase to $0.6220 (June 22 high)
An alternative scenario implies a breakout of the support of $0.6105-15 (June 12-13 and 23 lows) and there may be a decline to $0.6030 (June 7-8 low)
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