The NZDUSD is trading up and down today with technically defined as support and resistance doing their jobs.

On the downside, the 38.2% retracement, and swing area between 0.5983 and 0.5991 have been able to attract dip buyers at session lows today.

On the topside, the 50% midpoint of the move down from the large hi to the April low and the 200 day moving average near 0.6034 area is so far attracting sellers at the session highs.

With support and resistance both holding within a fairly narrow range, traders looking for a break with momentum can use the levels for bias clues.

Alternatively, for traders who still see up-and-down volatility, could use the levels as risk defining levels with stops on a break.