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- NZD/USD remains below MA (200) H1
NZD/USD remains below MA (200) H1
Today, the NZD/USD pair is mainly growing in the range of 0.5905-35, retreating from the 5-month low of 05860 reached yesterday. On the hourly chart, NZD/USD remains below the moving average line MA (200) H1 (0.5960) and on the four-hour chart below MA (200) H4 (0.6035). Technically speaking, the resistance of 0.5955 may keep prices from rising further. If it breaks through, the pair may rise to 0.6015. The lower bound of 0.5860 represents a strong support level.
Resistances are at the marks: 0.5955-70, 0.6015, 0.6045
An alternative scenario: 0.5860, 0.5775-90, 0.5700
The main scenario of the pair's movement assumes a decrease to 0.5860 (Nov 14 and April 17 low) and may be a decrease to 0.5775-90 (lows on October 26 and November 1)
An alternative scenario implies a breakout and resistance of 0.5955 (April 15 high) and MA (200) H1 (0.5970) and there may be an increase to 0.6015 (April 11 high).
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