NZDUSD returns to hourly MA levels today

100/200 hour MAs in play

The NZDUSD has moved lower today and in the process returned back toward the 100/200 hour MAs. 

Yesterday, the price trended higher and reached the 61.8% of the July trading range at 0.70188.  Sellers leaned against the area.  

The corrective move lower in the Asian session saw the price moved toward the 50% midpoint.  One final retest of the 61.8% saw the target broken, but only by a few pips before heading back down.  The 50% midpoint has been broken with the retest of the 100 hour MA, the next target at 0.69765. The 200 hour MA is at 0.69658.  Move below both, would tilt the technical bias more in favor of the sellers (once again).  

Invest in yourself. See our forex education hub.

Articles You May Like

Daimler Truck surges 17% to record on bumper earnings, buyback announcement
US Dollar flat in lackluster Tuesday
Yen Rises on BoJ Rate Speculation, But Gains Muted
“Demystifying Breaker Blocks in Forex Trading: Understanding Limits and Opportunities”
Yen Maintain Gains But Faces Momentum Hurdle, Dollar Indifferent to Weak Durable Goods

Leave a Reply

Your email address will not be published. Required fields are marked *