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- NZD / USD trades slightly above three-week low
NZD / USD trades slightly above three-week low
Today, the NZD/USD pair is trading in the range of $0.7115-50, after falling on Monday to a three-week low of $0.7095. On the hourly chart, NZD / USD is trading below the moving average line of MA (200) H1 ($0.7175), and on the four-hour chart, it is testing MA (200) H4 ($0.7130). Technically speaking, a strong support level of $0.7080-95 may keep the NZD / USD from further declining. If it breaks through, the price may fall to $0.7030. The session high of $0.7140 is the nearest resistance. If this level is passed, the pair may follow a correction to MA (200) H1 ($0.7175). The most likely range of the pair's movement for today may be hidden within the range of $1.7080-1.7175.
⦁ Resistance levels are: $0.7175, $0.7240, $0.7280
⦁ Support levels are: $0.7080-95, $0.7030, $0.7000
The main scenario for the pair's promotion - if the support of $0.7080-95 (December 28-29 and January 18 lows) is broken, the pair may fall to $0.7030 (December 22-23 low)
An alternative scenario - growth to MA (200) H1 ($0.7190) and then maybe to $0.7240 (January 13-14 high)
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