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- NZD/USD is trading near a one-month high.
NZD/USD is trading near a one-month high.
Today, the NZD/USD pair is trading in the range of 0.6055-85 - about a one-month high. On the hourly chart, the pair rose slightly above the average line MA (200) H1 (0.60020) and on the four-hour chart above MA (200) H1 (0.6015). In this situation, a scenario of further growth of NZD/USD is likely. Technically speaking, the resistance of 0.6085 has so far kept the pair from further growth. In case of breaking through this level, NZD/USD may rise to 0.6155. The lower bound of 0.5975 represents a strong support level.
Resistances are at the marks: 0.6085, 0.6155, 0.6220
An alternative scenario: 0.5980, 0.5910, 0.5850
The main scenario of the pair's movement assumes a breakout of the resistance of 0.6085 (Aug 15 high, session maximum) and there may be an increase to 0.6155 (July 8 high).
An alternative scenario implies a breakout of MA (200) H1 (0.6020), a decrease to 0.5975 (Aug 8 and 15 low) with a likely subsequent decrease to 0.5910 (Aug 6 low)
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