100 hour MA and trend line above. Swing area below stalls falls.
The NZDUSD remains in a contained area with a swing area below at 0.6421-243 and the 100 hour MA and trend line at the 0.6551 area defining the support and resistance.
The spike high today quickly moved to the 100 hour MA and trend line and found willing sellers.
The move lower could only get to a low of 0.64269 – ahead of the lower swing area.
We currently trade at 0.6445 – closer to the trend line and 100 hour MA, with traders looking for the next shove one way or the other (see post from yesterday).