100 hour MA below also helps to stall the fall
The NZDUSD moved lower after Friday’s test of the 200 day MA stall the rally (see green line on the daily chart below). That MA comes in at 0.68838. The price has not been above the 200 day MA since April 23rd.
Drilling to the hourly chart, the price fall today had traders leaning against a trend line and the 100 hour MA (currently at 0.6821 and 0.6811). The price fall stalled and the USD selling of late (new highs in EURUSD, new lows in the USDCHF and USDJPY) has seen the NZDUSD rise. The pair is up testing the 0.6841 area (high just reached 0.6843). Sellers – looking for a level to define risk – may use this swing level to lean against now. Be aware.