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- NZD/USD is testing the MA (200) H1.
NZD/USD is testing the MA (200) H1.
Today the pair NZD/USD is trading in the range of 0.5885-0.5905 and on the hourly chart is testing the moving average line MA (200) H1 (0.5905). On the four-hour chart, the set-up is similar. Technically speaking, the support at 0.5875 may keep prices from further declines. If this level is passed, the pair may fall to 0.5775. The upper boundary of 0.6000 represents a strong resistance level.
Resistances are at the marks: 0.5955, 0.6000, 0.6055
An alternative scenario: 0.5875, 0.5775-90, 0.5740
The main scenario of the pair suggests a break of resistance at 0.5955 (Nov 9 high) and may be a rise to 0.6000 (Nov 3-6 high)
The alternative scenario implies a break of the support at 0.5875 (low of the European session on November 2) and a decline to 0.5775-90 (Oct 26 and Nov 1 lows).
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