Technical Analysis

NZDUSD stalls at 100 day MA again

Having trouble at the key MA

The NZDUSD took another look at the 100 day MA at 0.66624 and for the 2nd day in a row, has found sellers against the level.   

If the price is to go higher, that MA needs to be busted. A break above looks toward the 0.6700 to 0.67259 area. 

If more buyers start to exit (stay below the 100 day MA), the corrective move would look toward the 0.6610 area where the 38.2% and the high from October 22 are found (see chart below)..

Articles You May Like

GBPUSD moves above ceiling area. Can it stay above?
Cable falls to session low as markets wait on further Brexit developments
WH sources: Stocks would see a significant pop on a China deal
GBP/JPY longs were the best trade this week
US stocks sure look good…

Leave a Reply

Your email address will not be published. Required fields are marked *