The NZD/USD pair is mostly rising in the 0.5910-45 range today, reaching a weekly high. On the hourly chart, the pair has risen slightly above the MA (200) H1 moving average line (0.5910). On the four-hour chart, the pair is trading well below the MA (200) H4 (0.5955). Technically speaking, the resistance level at 0.5960 may keep prices from rising further. The lower boundary of 0.5860 represents a strong support level.
Resistances are at the marks: 0.5960, 0.6015, 0.6120
An alternative scenario: 0.5890, 0.5860, 0.5745
The main scenario of the pair suggests a break of support at 0.5890 (Sept 15-18 low) and may be a decline to 0.5860 (Sept 5-6 low).
The alternative scenario implies a break of the resistance at 0.5960 (Sept 4 high) and a possible rise to 0.6015 (Sept 1 high).
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