The NZD/USD pair is mostly rising in the 0.6160-90 range today, hitting a 2-week high. On the hourly chart, the pair rose slightly above the MA (200) H1 (0.6115) moving average line. On the four-hour chart, the situation is similar. Technically speaking, the resistance at 0.6220 may keep prices from further growth. If it is broken, the pair may rise to 0.6280. The lower boundary of 0.6070 represents a strong support level.
Resistances are at the marks: 0.6190, 0.6220, 0.6280
An alternative scenario: 0.6115, 0.6070, 0.6040-50
The main scenario of the pair movement assumes a break of the session maximum of 0.6190 and maybe growth to 0.6220 (Feb 22 high).
The alternative scenario implies a break of the MA (200) H1 (0.6115) and may be a decline to 0.6070 (March 6 low).
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