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- NZD/USD is trading slightly above MA (200) H1
NZD/USD is trading slightly above MA (200) H1
Today, the NZD/USD pair is trading in the range of 0.6010-30 and remains slightly above the MA (200) H1 (0.6000) moving average line on the hourly chart. 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: 0.6000, 0.5980, 0.5915
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 support 0.6000 (May 13 low, MA (200) H1) and there may be a decrease to 0.5980 (May 8 low)
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