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- NZD/USD rose to a 2-week high
NZD/USD rose to a 2-week high
Today, the NZD/USD pair rose from 0.5680 to 0.5830, reaching a 2-week high. There is a strong upward movement on the hourly chart that has broken through several resistance levels. The price has confidently overcome the MA (200) H1 moving average (0.5725), which indicates a trend change towards growth. The nearest support level is now at 0.5770, and the key resistance is located at 0.5830. The MACD indicator shows a steady increase in the histogram, confirming the bullish momentum. If the price holds above 0.5770, it is likely that the growth will continue with the possibility of testing 0.5830. In case of correction, the nearest target may be 0.5725.
Resistances are at the marks: 0.5830, 0.5890, 0.5930
An alternative scenario: 0.5770, 0.5725, 0.5690
The main scenario of the pair's movement implies a breakout of the session high of 0.5830 (March 18 low) and there may be an increase to 0.5890 (Feb 28 low)
An alternative scenario assumes a breakout of the area 0.5755-70 (March 21 and 26-27 high) and there may be an increase to 0.5830 (March 18 high)
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