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- NZD/USD is testing MA (200) H1
NZD/USD is testing MA (200) H1
Today, the NZD/USD pair is mainly growing in the range of 0.5695-0.5735. The hourly chart shows an upward trend, as the price is above the MA (200) H1 moving average line, which has a slight upward slope. The MACD indicator shows an upward trend, but its histogram has not yet formed a steady growth. At the moment, the price is trading near the 0.5735 level and is trying to overcome the 0.5740 resistance. If the breakdown takes place, we can expect a move to 0.5760. In case of a reversal and decline, the key support level remains 0.5675. The trend remains bullish, but short-term pullbacks are possible.
Resistances are at the marks: 0.5740, 0.5760-70, 0.5790
An alternative scenario: 0.5675, 0.5635, 0.5585
The main scenario of the pair's movement implies a breakout of the support 0.5675 (March 11 low) and there may be a decline to 0.5635 (March 5 low)
The alternative scenario still assumes an increase to 0.5740 (March 10 high) and there may be an increase to the area of 0.5760-70 (Feb 21 and March 6 highs).
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