Down, up and down week for the NZDUSD
Low today stalls at 200 bar MA on 4-hour
The NZDUSD moved down and up and back down in trading this week. The high was reached yesterday at 0.66646. The low on Wednesday at 0.6583. The total range was 81 pips for the week.
On the way to the low on Wednesday, the price fell below the 200 bar MA on the 4 hour chart, but closed back above that line. The price based and moved higher from that MA level.
Today, that same 200 bar MA on the 4-hour chart stalled the fall at 0.6607 area (the low reached 0.66066 so far. We currently trade just above that level. Catalyst for the shift in tone to the downside today was the re-breaking of the 200 and 100 hour MAs at 0.66285 and 0.66243 respectively.
Sellers are in control in the pair in the up and down trading week. The sellers would take more control on a break of the 200 bar MA on the 4-hour chart. Close risk for shorts is the 100 and 200 hour MAs.