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- NZD/USD rose to a 2-week high
NZD/USD rose to a 2-week high
The NZD/USD pair is rising from 0.5845 to 0.5920 today, reaching a 2-week high. On the hourly chart, the pair rose above the MA (200) H1 moving average line (0.5830) and is testing the MA (200) H4 (0.5910) on the four-hour chart. Technically speaking, resistance at 0.5930 could keep prices from rising further. If this level is passed, the pair could rise to 0.6005. The lower boundary of 0.5790 represents a strong support level.
Resistances are at the marks: 0.5930, 0.6005, 0.6055
An alternative scenario: 0.5875, 0.5830, 0.5790
The main scenario of the pair suggests a break of resistance at 0.5930 (Oct 16 high) and a possible rise to 0.6005 (Oct 6 high)
The alternative scenario implies a break of the support at 0.5875 (Oct 24 high) and a decline to 0.5790 (Nov 1 low).
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