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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 0.5930-65 after falling on Monday to a 3-month low of 0.5860. On the hourly chart, the pair tests the moving average line MA (200) H1 (0.5920) and on the four-hour chart remains below MA (200) H1 (0.6050). Technically speaking, the support of 0.5920 has so far kept the pair from further decline. In case of breaking through this level, NZD/USD may go down to 0.5860. The upper limit of 0.6030 represents a strong resistance level.
Resistances are at the marks: 0.5985, 0.6030, 0.6100
An alternative scenario: 0.5920, 0.5860, 0.5775-90
The main scenario of the pair's movement assumes a breakout of MA (200) H1 (0.5920) and may be a decrease to 0.5860 (April 21 and July 29 low)
An alternative scenario implies a breakout of the resistance of 0.5985 (Aug 1 high) with a likely rise to 0.6030 (July 23 high)
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