The NZDUSD retraces and tests MA/March highs

Technical Analysis

Author: Greg Michalowski | nzdusd

100 hour MA and the old March high comes in at similar levels

The NZDUSD has corrected lower in trading today. 

Looking at the daily chart, the pair moved above the March high at 0.73538. The price has closed above that March high over the last 4 trading days. Today, the low stalled against that old high (so far). A move below should solicit selling.

On the hourly chart, the level is magnified from a technical perspective by the 100 hour MA. That MA comes in at 0.73559 - a couple pips away from the March high.  

Move below the old March high, and the 100 hour MA, and the buyers may start to lighten up into the weekend.

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