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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 0.5845-80 and remains slightly above the 13-month low of 0.5800 reached earlier last week. On the hourly chart, NZD/USD is testing the moving average line, MA (200) H1 (0.5875) decreased and on the four-hour chart it fell below MA (200) H4 (0.5930). Technically speaking, the support of 0.5830 keeps the pair from further decline for now. In case of breaking through this level, NZD/USD may fall to 0.5800. The upper limit of 0.5930 represents a strong resistance level.
Resistances are at the marks: 0.5880, 0.5905, 0.5930
An alternative scenario: 0.5830, 0.5800, 0.5777
The main scenario of the pair's movement assumes a breakout of the support 0.5830 (Dec 4 low) and may be a decrease to 0.5800 (Nov 26 low)
An alternative scenario implies a breakout of the session maximum of 0.5080, an increase to 0.5905 (Dec 3 high) and then, maybe, to 0.5930 (Nov 29 high)
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