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Technical Analysis

NZDUSD is trading below MA (200)

10-Jan-2022 13:33:03

Today, the NZDUSD pair is trading mainly with a decline in the range of $0.6755-85. On the hourly chart, the pair dropped below the MA (200) H1 moving average line ($0.6800). The situation is similar on the four-hour chart. Technically speaking, the support of $0.6735 can keep the pair from declining. The upper limit of $0.6785-$0.6800 represents the resistance level. The most probable range of the pair's movement for today may be hidden within the range of $0.6735-0.6800.

* Resistance levels are: $0.6785-$0.6800, $0.6835, $0.6855
* Support levels are: $0.6735, $0.6700, $0.6675

The main scenario for the pair's promotion — support breakout of $0.6735 (January 6-7 low) and there may be a decline to $0.6700 (December 20-21 low)

An alternative scenario — correction and there may be an increase to $0.6785-$0.6800 (session maximum, MA (200) H1).

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