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- Technical Analysis
- NZD/USD has fallen to a 4-month low.
NZD/USD has fallen to a 4-month low.
The NZD/USD pair is mostly down from 0.6055 to 0.6025 today, hitting a 4-month low. On the hourly chart, the pair fell slightly below the MA (200) H1 (0.6125) moving average line. On the four-hour chart, the situation is similar. Technically speaking, the support at 0.5995 may keep prices from further decline. In case of its breakdown, the pair may fall to 0.5940. The upper boundary of 0.6100 represents a strong resistance level.
Resistances are at the marks: 0.6055, 0.6100, 0.6175-85
An alternative scenario: 0.5995, 0.5940, 0.5860
The main scenario of the pair implies a break of the support at 0.5995 (Nov 22 low) and a possible decline to 0.5940 (Nov 17 low)
The alternative scenario implies a break of the session high of 0.6055 and may be a rise to 0.6100 (March 18 high).
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