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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 0.6275-0.6315, retreating yesterday from a 14-month high of 0.6380. On the hourly chart, the pair is testing the line of the average MA (200) H1 (0.6300), but on the four-hour chart it remains above MA (200) H1 (0.6210). Technically speaking, the support of 0.6250 keeps the pair from further decline for now. In case of breaking through this level, NZD/USD may fall to 0.6210. The upper limit of 0.6380 represents a strong resistance level.
Resistances are at the marks: 0.6315, 0.6380, 0.6415
An alternative scenario: 0.6250, 0.6210, 0.6155
The main scenario of the pair's movement assumes a breakout of the session maximum of 0.6313 and may be an increase to 0.6380 (Sept 30 high)
An alternative scenario implies a breakout of support 0.6250 (Sept 26 low) and there may be a decrease of 0.6210 (Sept 20 low)
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