Low from yesterday and earlier today stalls the fall
The NZDUSD moved down to test the low from yesterday and earlier today at the 0.62977-99 area and stalled. the price has rebounded up to 0.6307 currently. Is the bottom in? Risk can be defined and limted against the level.
On a rally a topide trend line and swing area at 0.6321-25 is an area that dip buyers would want to see broken. If broken, the falling 100 hour MA at 0.63425 would be eyed. The 38.2% of the move down from the September 12 high comes in at 0.63559. Those would be the minimum retracements .
