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- NZD/USD has risen sharply and is testing MA (200) H1
NZD/USD has risen sharply and is testing MA (200) H1
Today, the NZD/USD pair rose sharply from $0.6575 to $0.6635, regaining most of the positions lost since the beginning of the week. On the hourly chart, the pair tests the moving average line MA (200) H1 ($0.6625), but on the four-hour chart it remains below MA (200) H4 ($0.6640). The resistance of $0.6645 may keep the pair from further growth. If this level is passed, the NZD/USD may rise to $0.6680. On the other hand, the pair may still fall to the session low of$0.6575. In this situation, you should continue to adhere to the southern direction of trade and may be worth looking for points of exit to sell. The most likely range of price movement today may be hidden within the range of $0.6575-$0.6645
⦁ Resistance levels are at: $0.6645, $0.6680, $0.6760
⦁ Support levels are at: $0.6575, $0.6545, $0.6510
The main scenario for the pair's promotion - correction and possible decline of the pair to the session low of $0.6575
An alternative scenario - growth to $0.6645 (October 19 high) and then probably to $0.6680 (October 14 high)
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