Also below 38.2% of move up from September 24 low

The NZDUSD is trading up an down today. On the rallies the pair has been able to stay below its 38.2% retracement of the move up from the September 24 low at 0.66014. The pair is also remain below the 200 hour moving average (currently at 0.66041).

Also below 38.2% of move up from September 24 low

The inability to get above that area, keeps the sellers more in control.

On the downside today, the pair has been below the 50% midpoint at 0.65841 in the London and NY session with limited success. It would take a move below to weaken the pair.

Traders are battling between support at 0.6584 area and resistance at 0.6601-06604. Those extremes are not far from each other but at some point, there will be a break and run away.