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- NZD/USD remains above the MA (200) H1
NZD/USD remains above the MA (200) H1
The NZD/USD pair is mostly down from 0.6150 to 0.6120 today, but remains slightly above the MA (200) H1(0.6105) moving average line on the hourly chart. On the four-hour chart, the pair is trading below the MA (200) H4 (0.6175). Technically speaking, the resistance at 0.6175 may keep prices from rising further. The lower boundary of 0.6080 represents a strong support level.
Resistances are at the marks: 0.6160-75, 0.6205, 0.6205
An alternative scenario: 0.6105, 0.6080, 0.6040
The main scenario of the pair implies a break of MA (200) H1 (0.6105) and may be a decline to 0.6080 (Feb 8 low)
The alternative scenario implies a breakout of 0.6160-75 (Jan 31, Feb 2 and 9 highs) and may be a rise to 0.6205 (high of the US session on Jan 15).
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