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- NZD/USD remains below MA (200) H1
NZD/USD remains below MA (200) H1
Today, the NZD/USD pair is trading in the range of 0.6080-95 after falling yesterday to a weekly low of 0.6065. On the hourly chart, the pair remains below the moving average line MA (200) H1 (0.6100) and on the four-hour chart it fell below MA (200) H1 (0.6130). Technically speaking, the support of 0.6050 can keep the pair from further decline. In case of breaking through this level, NZD/USD may go down to 0.5980. The upper limit of 0.6130 represents a strong resistance level.
Resistances are at the marks: 0.6100, 0.6130, 0.6155
An alternative scenario: 0.6050-65, 0.5980, 0.5915
The main scenario of the pair's movement assumes a breakout of the support 0.6050-65 (July 2 and 10 lows) and may be a decrease to 0.5980 (May 8 low).
An alternative scenario implies a breakout of MA (200) H1 (0.6100) with a likely increase to 0.6130 (July 9-10 high)
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