Fall to the 200 hour and 200 day MA

The NZDUSD moved sharply higher on the back of better-than-expected inflation data just before the close yesterday. That helped to push the price up to key resistance against its 200 day and 200 hour moving average at 0.6772-75. The 50% retracement was also in the area at 0.6777. Later, the price moved above all those levels and tested the 0.6800 level before correcting lower.

Fall to the 200 hour and 200 day MA

That correction moved back toward the MAs and 50% area at the0.6772-77. The low reached 0.6777 and bounced. Buyers stay in control. The price is currently trading at 0.67907, with the 0.6800 the next target to get and stay above.

Risk remains the aforemention area at 0.6772-77. As long as the price stays above, the bulls remain in control.