NZDUSD tries to hold under a ceiling

Technical Analysis

Author: Greg Michalowski | nzdusd

Sellers are trying to put a lid on the pair

Traders are trying to build a ceiling at the 0.6746 area. The highs from yesterday and again today have stalled the rally. Momentum to the upside is slowing, but the downside is limited too. 

Sellers are trying to put a lid on the pair

If the ceiling is broken, that would be more bullish. I would not mess wiith it.

If it holds, the sellers still need to get below the 0.6733 level and stay below. If broken, there are other key targets on the downside that would need to be broken. They include the rising 100 hour MA at 0.67175 and the 200 day MA at 0.67131.  The 100 hour MA stalled the fall in traidng on Tuesday. Both are key for the bias going forward.....

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