Back below 100 hour MA.
The NZDUSD has corrected higher today, despite the stock slaughter. In fact, the price moved back into the black for a little bit, but the run higher has reached the high from yesterday and backed off.
We are now trading below the close at 0.6344 and also the 100 hour MA at 0.6350. On the downside the next target is the 0.6335 level which is the underside of a broken trend line at 0.6335.
There is some signs that the high may have been reached, but getting back below that solid broken trend line at 0.6335, would give sellers more confidence that the high is in place.
What would hurt sellers and help buyers is a move back above the 100 hour MA and the double top at 0.63561.
