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- NZD/USD is trading near a monthly low
NZD/USD is trading near a monthly low
Today, the NZD/USD pair is trading with a decline from $0.7045 to $0.6990, again reaching a monthly low. On the hourly chart, the pair dropped below the MA (200) H1 moving average line ($0.7045). The situation is similar on the four-hour chart. Technically speaking, the level of $0.6980 can keep prices from further decline. If it breaks through, prices may drop to $0.6910. The upper limit of $0.7045-50 represents the resistance level. The most likely range of the pair's movement for today may be hidden within the range of $0.6980-0.7050
⦁ Resistance levels are: $0.7045-50, $0.7080, $0.7130
⦁ Support levels are: $0.6980, $0.6910, $0.6860
The main scenario for the pair's promotion — decline to $0.6980 (November 17 low) and then maybe to $0.6910 (October 13 low)
An alternative scenario — correction and there may be an increase to $0.7045-50 (November 18 high, MA (200) H1, session maximum)
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