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- NZD/USD tests MA (200) H1
NZD/USD tests MA (200) H1
Today, there is a moderately upward correction after a decline on the hourly chart of NZD/USD. The price is holding above the 0.5945 support level and is trading near the 0.59749 mark. Strong resistance is located in the 0.6035 area, where a downward reversal was previously observed. The nearest support is the 0.5925 level, followed by 0.5885 and 0.5830. The MA (200) H1 moving average is pointing upwards and is currently supporting the price, which indicates that the short-term upward momentum continues. The MACD indicator shows a recovery: the histogram has entered a positive zone, and the columns are getting higher, which indicates a growing bullish momentum. The overall mood is moderately bullish, while it remains important to monitor the price behavior at the 0.5945 level and the further dynamics of the MACD.
Resistances are at the marks: 0.6035, 0.6060, 0.6085
An alternative scenario: 0.5925, 0.5885, 0.5830
The main scenario of the pair's movement implies a breakout of the resistance of 0.6035 (April 22 high) and there may be an increase to 0.6060 (Oct 22 high)
An alternative scenario suggests a breakout of 1.5925 (April 18 low) and a possible decline to 0.5885 (April 16 low)
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