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- NZD / USD has fallen sharply and is testing MA (200) H1
NZD / USD has fallen sharply and is testing MA (200) H1
Today, since the start of trading, the NZD/USD pair rose slightly to $0.6775), but soon fell sharply to $0.6700 and is testing MA (200) H1 ($0.6705), but remains above MA (200) H4 ($0.6645) on the four-hour chart. A strong support level of $0.6675 may keep NZD / USD from falling further. If it breaks through, the price may drop to $0.6640. The $0.6735-60 area represents resistance. If it is passed, the pair may follow a correction to $0.6790-95. The most likely range of price movement today may be hidden within the range of $1.6675-1.6795.
⦁ Resistance levels are at: $0.6735-60, $0.6790-95, $0.6840
⦁ Support levels are at: $0.6675, $0.6640, $0.6600
The main scenario for the pair's promotion - correction, breakout of $0.6735-60 (September 4 and 15-16 highs) and possible growth to $0.6790-95 (high of July 19-22’2019, September 2 high, session high)
An alternative scenario - breakout of support at $0.6675 (September 17 low) and likely decline to $0.6640 (September 10-11 low)
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