The NZDUSD moved higher earlier today, and in doing so, moved above the 100-hour moving average at 0.6209. The momentum price up-to-date 200-hour moving average of 0.62252. Getting above that moving average would have given the buyers more control. However, instead sellers leaned and push the price back below the 100-hour moving average in the current hourly bar.
On the downside, watch 0.61929. Move below that level and the low for the day at 0.6177 and the rising 100 bar moving average on the 4-hour chart and 0.61616 would be the targets.
This article was written by Greg Michalowski at www.forexlive.com.
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