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- NZD/USD may test the strength of the MA (200) H1.
NZD/USD may test the strength of the MA (200) H1.
Today, the NZD/USD pair is trading in the 0.6130-75 range - slightly below the 4-month high of 0.6220 recorded yesterday. On the hourly chart, the pair may test the MA (200) H1 moving average line (0.610), but on the four-hour chart it remains above the MA (200) H4 (0.5965). Technically speaking, resistance at 0.6220-25 could keep prices from rising further. If this level is passed, the pair could rise towards 0.6275. The lower boundary of 0.6060 represents a strong support level.
Resistances are at the marks: 0.6220-25, 0.6275, 0.6310
An alternative scenario: 0.6120, 0.6060, 0.5995
The main scenario of the pair suggests a break of resistance at 0.6220-25 (July 31, Dec 4 highs) and a possible rise to 0.6275 (July 27 high)
The alternative scenario implies a break of the support at 0.6120 (Nov 30 low) and a possible decline to 0.6060 (Nov 27 low)
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