Today, the NZD/USD pair is trading in the range of $0.6465-0.6505 - slightly below the monthly high of $0.6530 reached last week. On the hourly chart, the pair rose above the MA (200) H1 moving average line ($0.6435). On the four-hour chart, the pair remains above MA (200) H4 ($0.6365). Technically speaking, the resistance of $0.6530 may keep prices from rising further. The lower bound of $0.6365 represents the support level.
Resistances are at the marks: $0.6525-30, $0.6575, $0.6645
An alternative scenario: $0,6435, $0,6365, $0,6320
The main scenario of the pair's movement assumes a breakout of the resistance of $0.6525-30 (January 18 and 24 high) and there may be an increase to $0.6575 (June 3 high).
An alternative scenario implies a breakout of the support of $0.6435 (January 23 low, MA (200) H1) and there may be a decline to $0.6365 (January 19 low).
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