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- NZD/USD is testing MA (200) H1
NZD/USD is testing MA (200) H1
Today, the NZD/USD pair is trading in the range of 0.5930-55 after falling last week to a new 5.5-month low of 0.5850. On the hourly chart, NZD/USD is testing the MA (200) H1 (0.5915) moving average line and remains below MA (200) H4 (0.6010) on the four-hour chart. Technically speaking, resistance of 0.5955 can keep prices from rising further. If it breaks through, the pair may rise to 0.6015. The lower bound of 0.5850 represents a strong support level.
Resistances are at the marks: 0.5955, 0.6015, 0.6045
An alternative scenario: 0.5900, 0.5850, 0.5775-90
The main scenario of the pair's movement assumes a breakout of the support 0.5900 (April 23 low) and there may be a decrease to 0.5850 (April 19 low)
The alternative scenario implies a breakout and resistance of 0.5955 (April 15 high, session maximum) and there may be an increase to 0.6015 (April 11 high).
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