Stops on a break lower
The NZDUSD has reached a key technical area defined by the 50% retracement at 0.67938 and the 200 hour MA at 0.67891. This area should give sellers a cause for pause with stops on a break below. Be aware.
The NZDUSD moved up to test another 200 bar MA on the daily chart on Friday. The 200 day MA was tested at 0.6682 area. The fall yesterday stalled at a lower trend line.
Today that trend line and 100 hour MA (blue line) was broken, giving sellers more control. If the fall stalls, there could be a bounce back rally back toward the 100 hour MA, where I would expect sellers.
At a key area. We will see if the buyers/profit takers enter to stall the fall.