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- NZD/USD can test the strength of MA (200) H1
NZD/USD can test the strength of MA (200) H1
Today, the NZD/USD pair is mainly declining from 0.6025 to 0.5990 and on the hourly chart it can test the strength of the average MA (200) H1 (0.5980) line. On the four-hour chart, the pair remains below MA (200) H4 (0.6100). Technically speaking, the 0.6040 resistance has kept the pair from rising so far. In case of breaking through this level, NZD/USD may rise to 0.6060. The lower bound of 0.5910 represents a strong support level.
Resistances are at the marks: 0.6040, 0.6060, 0.6085
An alternative scenario: 0.5980, 0.5940, 0.5910
The main scenario of the pair's movement assumes a breakout of MA (200) H1 (0.5980), a decrease to 0.5940 (Oct 31 low) and then maybe to 0.5910 (Aug 6 and Nov 6 low)
An alternative scenario implies a breakout of resistance to 0.6040 (Nov 7 high) and there may be an increase to 0.6060 (Oct 22 high)
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