NZDUSD trades mostly above 100 hour MA but recent swing highs are lower

Technical Analysis

Author: Greg Michalowski | nzdusd

The 100  hour MA comes in at 0.6538

The NZDUSD is higher on the day. The pair based against its 100 hour moving average yesterday and in the 1st hour of trading today. Later in the early European session, the price did breach the 100 hour moving average on a couple of occasions but failed. The average was reestablished before running to the price for the day.

The 100  hour MA comes in at 0.6538
The high price for the day 0.6569. That did take out Monday's high at 0.6565 but fell short of the swing highs from yesterday's trade at 0.65729 and 0.65796. As a result, the last 2 swing highs have been lower. Getting above those highs would change that slightly negative bias.

On the downside it will take a move back below the 100 hour moving average currently at 0.6538 to give sellers more control.  

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