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- Technical Analysis
- The NZD / USD pair rose to a more than two-year high
The NZD / USD pair rose to a more than two-year high
Today, the NZD / USD pair continues to grow and reached a high of mid-July 2018 ( $0.7005). On the hourly chart, the pair is trading above the moving average line of MA (200) H1 ($0.6900), and on the four - hour chart it is significantly higher than MA (200) H4 ($0.6735). In this situation, finding a buy position can probably be a wise decision for those who want to take advantage of the stronger new Zealand dollar. It is worth noting that the 14-day relative strength index (RSI (14) on D1) is above the level of 70, which signals a possible change in the direction of price movement.
⦁ Resistance levels are at: $0.7005, $0.7025, $0.7055
⦁ Support levels are at: $0.6895-0.6900, $0.6860, $0.6800
The main scenario for the pair's promotion - breakout of the session high of $0.7005 and maybe rise to $0.7025 (June 6-7’2018 high)
An alternative scenario - support breakout of $0.6895-0.6900 (November 23 low, MA (200) H1) and may be reduced to $0.6860 (low of the US session November 16)
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