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- NZD/USD tests MA (200) H1
NZD/USD tests MA (200) H1
Today, the NZD/USD pair is trading in the 0.6120-65 range, after declining on Friday to the 10-day low of 0.6100. On the hourly chart, the pair is testing the MA (200) H1 moving average line (0.6150). On the four-hour chart, the pair remains above the MA (200) H4 (0.6010). Technically speaking, the support at 0.6100 may keep prices from further declines. If this level is passed, the pair could fall to 0.6060. The upper boundary of 0.6220-25 represents a strong resistance level.
Resistances are at the marks: 0.6190, 0.6220-25, 0.6275
An alternative scenario: 0.6100, 0.6060, 0.5995
The main scenario of the pair suggests a break of resistance at 0.6190 (Dec 7 high) and a possible rise to 0.6220-25 (July 31 and Dec 4 highs)
The alternative scenario implies a break of the support at 0.6100 (Dec 8 low) and a possible decline to 0.6060 (Nov 27 low).
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