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- NZD/USD rose above MA (200) H1
NZD/USD rose above MA (200) H1
Today, the NZD/USD pair is trading in the range of 0.6220-60 after rising yesterday to an almost 3-week high of 0.6270. On the hourly chart, the pair rose above the average MA (200) H1 (0.6180) line. On the four-hour chart, the pair remains above MA (200) H1 (0.6140). Technically speaking, the resistance of 0.6275 may keep the pair from further growth. In case of breaking through this level, NZD/USD may rise to 0.6300. The lower bound of 0.6105 represents a strong support level.
Resistances are at the marks: 0.6270-75, 0.6300, 0.6370.
An alternative scenario: 0.6180, 0.6150, 0.6105
The main scenario of the pair's movement assumes a breakout of the resistance of 0.6270-75 (Aug 30 and Sept 18-19 high) and there may be an increase to 0.6300 (Aug 29 high)
An alternative scenario implies a breakout of the support 0.6180 (Sept 19 low, MA (200) H1) and there may be a decrease to 0.6150 (Sept 13 low)
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