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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 0.5890 -0.5905 and is testing the moving average line on the hourly chart, MA (200) H1 (0.5870) has decreased. Note that yesterday the pair dropped to a 13-month low and the psychological level of 0.5800. On the four-hour chart, the pair remains below MA (200) H4 (0.5965). Technically speaking, the resistance of 0.5920 may keep the pair from further growth. In case of breaking through this level, NZD/USD may rise to 0.5950. The lower bound of 0.5800 represents a strong support level.
Resistances are at the marks: 0.5920, 0.5950, 0.5980
An alternative scenario: 0.5800, 0.5775, 0.5735
The main scenario of the pair's movement assumes a breakout of MA (200) H1 (0.5870) and a decrease to 0.5800 (Nov 26 low)
An alternative scenario implies a breakout of the resistance of 0.5920 (Nov 20 high) and there may be an increase to 0.5950 (Nov 13 high)
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