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- NZD/USD tests MA (200) H1
NZD/USD tests MA (200) H1
The NZD/USD pair is trading in the 0.5920-60 range today, after reaching a new 3-week high of 0.5990 last week. On the hourly chart, the pair is testing the MA (200) H1 moving average line (0.5940). On the four-hour chart, the situation is similar. Technically speaking, the resistance level of 0.5990 may keep prices from further growth. The lower boundary of 0.5890 represents a strong support level.
Resistances are at the marks: 0.5960, 0.5975-90, 0.6015
An alternative scenario: 0.5920, 0.5890, 0.5860
The main scenario for the pair suggests a break of the session high of 0.5960 and maybe a rise to 0.5975-90 (Sept 22 and 25-26 highs)
The alternative scenario implies support at 0.5920 (Sept 22 low, session low) and there could be a decline to 0.5890 (Sept 15-18 low)
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