NZDUSD trends higher.

Technical Analysis

Author: Greg Michalowski | nzdusd

Risk on flows continue to push as US stocks extend gains

The NZDUSD is continuing the run higher off of the lowest level since August 26 during the early Asian session.  The low price reached 0.6982 Before running back to the upside.

Risk on flows continue to push as US stocks extend gains

On the move higher, the price extended above its 100 hour moving average (blue line in the chart above). Yesterday during the FOMC volatility, the price also moved above that moving level but stalled against Tuesday's high price near 0.7055.  

The price rise today did stall once again near that 0.7055 level and ahead of the 200 hour moving average and 100 day moving average near 0.7063, but has now broken through those levels on its way to into a higher extreme area (above the green numbered circles) between 0.7072 and 0.7077.

The 200 hour moving average and 100 day moving average are now risk. Stay above is more bullish. Move below and the buyers might lose some of their bullish bias.

On the topside sits swing area is between 0.70962 and 0.70997. Above that is the 200 day moving average at 0.71139 and a another swing area at 0.7189 to 0.7125.  

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