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- NZD/USD is trading near a one-month high
NZD/USD is trading near a one-month high
Today, the NZD/USD pair is trading in the range of 0.6010-40 - near the monthly high of 0.6050 reached last week. On the hourly chart, the pair rose above the MA (200) H1 (0.5980) moving average line. The situation is similar on the four-hour chart. Technically speaking, the resistance of 0.6050 can keep prices from rising. If it breaks through, the pair may rise to 0.6050. The lower bound of 0.5915 represents a strong support level.
Resistances are at the marks: 0.6050, 0.6080, 0.6105
An alternative scenario: 0.5980, 0.5915, 0.5875
The main scenario of the pair's movement assumes a breakout of the resistance of 0.6050 (May 3 high) and there may be an increase to 0.6080 (April 10 high)
An alternative scenario implies a breakout of the 0.5980 support (May 8 low, MA (200) H1) and may be a decrease to 0.5915 (May 2 low)
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