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- Technical Analysis
- NZD/USD is trading near a one-month low
NZD/USD is trading near a one-month low
Today, the NZD/USD pair is trading in the range of $0.6540-90, after falling yesterday to a one-month low of $0.6510. On the hourly chart, the pair is trading below the average MA (200) H1 ($0.6670), and on the four - hour chart, it is trading below MA (200) H4 ($0.6640). Yesterday's low of $0.6510 may keep NZD/USD from falling further. If it breaks through, the price may drop to $0.6490. The session high of $0.6590 represents resistance. If it is passed, the pair may follow a correction to $0.6670-85. The most likely range of price movement to date may be hidden within the range of $1.6510-90.
⦁ Resistance levels are at: $0.6590, $0.6670-85, $0.6760
⦁ Support levels are at: $0.6510, $0.6490, $0.6440
The main scenario for the pair's promotion - resistance breakout to $0.6510 (August 21-24 and September 24 low) and the pair may decline to $0.6490 (August 20 low)
An alternative scenario - breakout of the session high of $0.6590 and probable growth to $0.6670-85 (September 22 high, MA (200) H1)
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