Recent swing lows, stall the pair

The NZDUSD extended below last weeks lows at 0.7140 area but stalled just ahead of the October 24th week's lows at 0.7108. Traders are leaning as London looks to close up for the week.

Overall, in trading today (and this week), the pair was influenced by RBNZ easing (they lowered rates to new all time low levels), dollar strength, and today, commodities are on a downward track. All have helped to weaken the pair.

Technically, yesterday - and again today - the price fell below a cluster of MAs starting with the 100 bar MA on the 4-hour chart, the 100 day MA (at 0.72074), the 200 bar MA on the 4 hour chart at 0.7198, and then a trend line (over the last few hours) at 0.7180.