The pair retests the 100 hour MA and the underside of broken trend line
The NZDUSD has been caught up in the dollar buying in the NY morning session. In the process, the 100 hour MA was broken, an upward sloping trend line near the 100 hour MA was broken. The pair moved down toward the 200 hour MA at 0.68936, but found buyers. The trending NZDUSD has not been below the 200 hour MA since November 4th (down at around 0.6665 level).
The pair's rebound off the 200 hour MA has the NZDUSD price testing the 100 hour MA and the broken trend line. It will take more buying above that level to negate some of the bearish run to the downside seen over the last few hours of trading.
Helping a little to the downside bearish case in the pair was the inability to stay above a topside trend line at the highs today. The buyers had their shot to extend higher, but they could not muster much momentum on the breaks today....
