NZDUSD back above the 100 hour moving average
With the US stocks showing some life, their is some risk on sentiment. The NZDUSD has been trading above and below its 100 hour moving average since the employment report. That level comes in at 0.61186. The pair just reached a new session high at 0.61321. The pair is also looking to extend above the 38.2% retracement of the move down from last Thursday's high.
On the topside, the 200 hour moving average and 50% of the same move down comes in near 0.6152 (the 50% is at 0.61498). Note that the 200 hour moving average stalled the rallies on August 25, August 26, and this week on Tuesday. That pattern needs to be broken if the buyers are to take more control. So get above the 200 hour moving average increases the bullish bias.
