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- NZD/USD is trading near a 3-month high
NZD/USD is trading near a 3-month high
Today, the NZD/USD pair is trading in the range of 0.6185-0.6205 after rising yesterday to a 3-month high of 0.6215. On the hourly chart, the pair rose above the moving average line MA (200) H1 (0.6160) and on the four-hour chart above MA (200) H4 (0.6060). Technically speaking, the resistance of 0.6215 may keep the pair from further growth. If it breaks through, the pair may rise to 0.6285. The lower bound of 0.6055 represents a strong support level.
Resistances are at the marks: 0.6215, 0.6280-85, 0.6370
An alternative scenario: 0.6155-60, 0.6085, 0.5980
The main scenario of the pair's movement assumes a breakout of the resistance of 0.6215 (March 8 and June 6 high) and there may be an increase to 0.6280-85 (January 4-5 and 12 high)
An alternative scenario implies a breakout of support 0.6155-60 (June 4 low, MA (200) H1) and there may be a decrease to 0.6085 (May 21-22 low)
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