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- NZD/USD rose to a 3-week high.
NZD/USD rose to a 3-week high.
The NZD/USD pair rose sharply from 0.5885 to 0.5985 today, reaching a 3-week high. The pair broke through the 0.5930 resistance, which was the nearest support. On the hourly chart, the pair rose above the MA (200) H1 moving average line (0.5840) and is testing the MA (200) H4 (0.5910) on the four-hour chart. Technically speaking, resistance at 0.6005 may keep prices from rising further. If this level is passed, the pair could rise to 0.6055. The lower boundary of 0.5875 represents a strong support level.
Resistances are at the marks: 0.6005, 0.6055, 0.6120-35
An alternative scenario: 0.5930, 0.5875, 0.5840
The main scenario of the pair suggests a break of resistance at 0.6005 (Oct 6 high) and a possible rise to 0.6055 (Oct 11 high).
The alternative scenario implies a break of the support at 0.5930 (Oct 16 high) and a decline to 0.5875 (Oct 26 high).
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