The NZDUSD backs off after run higher slows ahead of September swing highs

Technical Analysis

Author: Greg Michalowski | nzdusd

Tests another swing area as the market threatens to tilt lower

The NZDUSD moved higher today and in the process, traded above a swing area from back in August/September at the 0.6406-09 area. The high, however stalled at 0.6435 which was short of a number of highs from back in September at 0.64433 area (there was a high spike up to 0.6450).  

Tests another swing area as the market threatens to tilt lower
The stall has sent the price back down to test the lower area at 0.6406-09 currently. A move below could see more of a tilt in the downward direction for the pair.  

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