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- NZD/USD remains above MA (200) H1
NZD/USD remains above MA (200) H1
Today, the NZD/USD pair is trading in the range of 0.5990-0.6010 and on the hourly chart rose slightly above the MA (200) H1 moving average line (0.5970). The situation is similar on the four-hour chart. Technically speaking, the support of 0.5970-80 can keep prices from falling. If it breaks through, the pair may drop to 0.5915. The upper limit of 0.6050 represents a strong resistance level.
Resistances are at the marks: 0.6025, 0.6050, 0.6080
An alternative scenario: 0.5970-80, 0.5915, 0.5875
The main scenario of the pair's movement assumes a breakout of the resistance of 0.6025 (May 7 high) and there may be an increase to 0.6050 (May 3 high)
An alternative scenario implies a breakout of support 0.5970-80 (May 8 low, MA (200) H1) and there may be a decrease to 0.5915 (May 2 low)
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