Low at the close yesterday stalled near 100 hour MA
The NZDUSD broke above its 100 day MA on Friday. Yesterday the price moved back below the level, only to find support buyers against the 100 hour MA (blue line) toward the end of the trading day.
Today the price has been able to extend back above the 200 day MA at 0.67117. We currently trade at 0.6720. Stay above is move bullish. Move back below and the buyers may give up (and subsequently look to crack below the 100 hour MA at 0.6701 now).
On the topside, the recent highs at 0.67338 and 0.67374 are targets to get above if the buyers are able to keep control.
Taking a broader look at the daily char, the 0.67634 is the 61.8% of the move down from the March high and also home to a topside trend line (see chart below). If the bulls remain in control, that area will be a key level for the bulls and the bears.
