Like AUDUSD, the NZDUSD channel is in play
Like the AUDUSD, the NZDUSD topside channel trend line is in play on the rise today.
The pair reached that trend line at the high for the day at 0.7428 (the high reached 0.74274). The price has come off the peak and trades at 0.7415 now.
Drilling to the 5 minute chart, the price has broken below a trend line (underside now at 0.7418). The 100 bar MA on the chart (blue line) is rising and comes in at 0.74033. That will be a target level to get below now. A move below will give sellers more confidence.
