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- NZD/USD remains above MA (200) H1
NZD/USD remains above MA (200) H1
Today, on the hourly chart, the NZD/USD is mainly growing from 0.5675 to 0.5710 and remains above the MA (200) H1 moving average line (0.5670), which confirms the trend change to bullish. The recent pullback failed to overcome the resistance level of 0.5710, which indicates continued selling pressure. The MACD histogram is positive, indicating an increase in the upward momentum. If the growth continues, this may confirm a further upward movement.
As long as the price remains above MA (200) H1, continued growth is likely. To confirm the upward movement, it is necessary to consolidate above 0.5740.
In the case of a pullback to the support of 0.5670-75, purchases can be considered if there are confirmation signals.
Resistances are at the marks: 0.5740, 0.5760-70, 0.5790
An alternative scenario: 0.5670-75, 0.5635, 0.5585
The main scenario of the pair's movement suggests a breakout of the session high of 0.5740 and there may be an increase to the area of 0.5760-70 (Feb 21 and March 6 highs).
An alternative scenario implies a decline to 0.5670-75 (session low, MA (200) H1) and then maybe to 0.5635 (March 5 low)
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