Today, the NZD/USD pair is trading in the range of $0.6060-0.6100 - around the 3-week low of $0.6050 reached yesterday. On the hourly chart, the pair fell below the moving average line MA (200) H1 ($0.6145) and on the four-hour chart below MA (200) H4 ($0.6140). Technically speaking, the support level of $0.6030-50 may keep the pair from further decline. The upper limit of $0.6200 represents the resistance level.
Resistances are at the marks: $0.6100, $0.6145, $0.6200
An alternative scenario: $0.6030-50, $0.5985, $0.5840
The main scenario of the pair's movement assumes a breakout of the support of $0.6030-50 (June 5-8 and 29 lows) and there may be a decline to $0.5985 (May 31 low)
An alternative scenario implies a breakout of the resistance of $0.6100 (June 29 high, session maximum) and MA (200) H1 ($0.6145) and there may be an increase to $0.6200 (June 27 high)
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