The NZDUSD is pushing lower today in an up-and-down fashion. IN doing so, the press moved down toward support near swing highs going back to April 13 and April 14, and from Friday's trade. Those levels come between 0.6308 and 0.63149. It will take a move below that level to give the sellers more confidence with the rising 100 hour moving average currently at 0.62958 and the rising trend line just below that level and 0.6290 as the next key targets.
The low price today reached 0.6317 around 2-3 pips from the high of the swing area.
Looking at the daily chart, the 61.8% retracement of the 2023 trading range comes in at 0.6364. The high price yesterday reached up to 0.63583. Getting above that level would have traders targeting the high price from April and 0.6376 and the high prices from February 9 to February 14 near 0.6389.
On the downside, the 50% midpoint of the 2023 trading range comes in at 0.63108, in the 100 day moving average comes at 0.62768.
