Battle going on in the pair
It is month end/quarter end so there may be some volatility, but the NZDUSD moved higher in the early NY session. The run to the upside took the price toward the falling 100 hour MA. That level comes in at 0.64217. The high reached up to 0.6424 in the NY session before coming off. We are currently retesting that MA level after the first run higher failed.
On the downside, the 0.6393 to 0.64015 is home to a number of swing levels going back to June 11 (see yellow area and red numbered circles). The price has tried to break below that area on three separate occasions (including today), only to fail (see red shaded areas). The current hourly bar, found support buying against the high of that swing area.
Are the buyers making a play?
It seems that way, but getting and staying above the 100 hour MA is needed.
On more upside the trend line connecting recent highs cuts across at 0.6431. Above that is the 200 hour moving average at 0.64373. Getting and staying above that moving average is also a key hurdle for the dip buyers. The 38.2% retracement of the move down from last week's high comes in at 0.64411 and it too would be a target to get to and through.