NZDUSD retraces 50% of the days tumble, but stalls. Sellers back in.

Technical Analysis

Author: Greg Michalowski | nzdusd

Rally helped by Trump of course

The NZDUSD has and continues to be the dog of the day.  However, the Trump comment pushed the pair up to the 50% retracement of the day's ranges at 0.6759 (the high reached 0.6761).  


In the process, the pair moved above the 0.67468-52 area. That has been a swing area for the pair.  Generally, stay below, more bearish. Move above, more bullish.  However, this afternoon, could not be sustained. The price is back below and that area will be an area to eye for bias clues.  

On the downside, the 0.67253 level will be a level to get and stay below.  That level was the low floor from last Friday. Today, the price moved below that level but ran into the Trump comments that pushed the price higher.     

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