50% of the days range too
The NZDUSD has corrected down in the last few hours, and in the process has tested the 100 hour MA (blue line in the chart below). That level comes in at 0.7546 currently. The 50% of the days range comes in at 0.7544. The low for the day stalled at 0.75456. Kind of like getting between the wall and the wall paper on that low.
Interestingly enough, the high today stalled near another 100 MA. This was the 100 day MA. That MA comes in today at 0.75993. The high extended to 0.7507 before heading back lower (I guess it was more of a failed break).
The quick bounce off the low, is showing the buyers showed up below and seemed to be waiting there. However, if the move lower is a flush and replenish, the 0.7580 area is where trend lines and the 100 bar MA on the 5 minute chart are all found. A move back above that level will make the dip buyers happy - and more confident - with their purchases.
