Technical Analysis

NZDUSD looks to close above the 100 day MA

First close above the 100 day MA since April 19th

The NZDUSD is looking like it might close above the 100 day MA for the first time since April 19th. That is 141 days in a row. On Friday, the price moved above, the MA line but could not close above the level.   


Now although the price may close above the MA – the current price is at 0.6670 and the 100 day MA is at 0.66594 – the recent highs from September at 0.6700 and the end of August at 0.67259, will be eyed to put a more bullish spin on the technicals.  Moves above that level, and the 38.2% of the move down from the 2018 high (from Feb high) at 0.68106 will be eyed.  

Taking a closer look at the 4-hour chart below, the correction to the low today reached toward the 38.2% of the move up from the low last week at 0.66216. The low price reached 0.66254. That is bullish.

The high last week reached 0.66888. The highs from September reached 0.6695 and 0.6699 respectively.  Key targets to get and stay above. 

ForexLive

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