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- NZD/USD remains below MA (200) H1
NZD/USD remains below MA (200) H1
On the hourly chart of the NZD/USD pair, the price was in a downward-trending range, falling to the support level near 0.5950. In recent sessions, there has been an attempt at recovery, and the price is showing small signs of a rebound to the level around 0.6015. The moving average shows that the long-term trend is still downward, but the short-term current momentum may indicate the possibility of a corrective pullback to the upside. The MACD indicator is in the negative zone, but it shows signs of smoothing and possible intersection, which may indicate a weakening of bearish pressure.
Resistances are at the marks: 0.6015, 0.6045, 0.6080
An alternative scenario: 0.5970, 0.5915, 0.5880
The main scenario of the pair's movement implies a breakout of the session low of 0.5970 and there may be a decline to 0.5915 (low of the Asian session on June 23)
An alternative scenario assumes a breakout of the resistance at 0.6015 (July 14 high) and there may be an increase to 0.6045 (July 11 high)
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