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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 0.6125-50 and is testing the MA (200) H1 (0.6140) moving average line on the hourly chart. The pair is trading slightly above the monthly low of 0.6100 reached this week. On the four-hour chart, NZD/USD rose slightly above MA (200) H4 (0.6110). Technically speaking, the resistance of 0.6150 may keep the pair from further growth. If this level is broken, NZD/USD may rise to 0.6220. The lower bound of 0.6085 represents a strong support level.
Resistances are at the marks: 0.6150, 0.6220, 0.6285
An alternative scenario: 0.6085-0.6100, 0.5980, 0.5915
The main scenario of the pair's movement still assumes a decrease to 0.6085-0.6100 (May 22-24 and June 17 lows) and there may be a decrease to 0.5980 (May 10 low)
An alternative scenario implies a breakout of the resistance of 0.6150 (June 18 high) and there may be an increase to 0.6220 (June 12 high)
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