Lows are also above the May 4th lows for each.
Looking at the hourly chart for both the AUDUSD and the NZDUSD, they look similar.
- Both bottom in May on May 4.
- Both reached a peak on May 10
- Both returned to their 100 day moving averages over the last 24 hours
- Both traded above and below the 100 day moving average in trading today
Looking at the NZDUSD on the hourly chart below, the price moved below its 100 day moving average yesterday and closed below that moving average for the first time since May 4 yesterday. Today a new low was reached at 0.71344, which was short of swing lows from May 4 at 0.71213 and 0.71148. The price bounce in the New York session has seen a move back above its 100 day moving average. There was a dip below in the early NY afternoon, but the last two hours has seen traders basing against that level at 0.71708. Stay above is more bullish in the new trading day
Looking at the AUDUSD the pair also has traded down on up in trading today. The lows moved to test a swing area between 0.76955 and 0.77053. The price moved below that area but could not reach the swing lows from May 4 near 0.76745. Sellers turned buyers and the New York session has traded mostly above its 100 day moving average at 0.7717. In the new trading day - like the NZDUSD - stay above the 100 day moving average would be more bullish.
