NZDUSD consumers are leaning in opposition to progressively greater technical ranges. What subsequent?

Final week, NZDUSD discovered assist on the rising 200-hour transferring common, holding its low earlier than rebounding. The pair then broke above a key swing space (zero.5683–zero.5694), which acted as assist on a corrective transfer Thursday earlier than pushing greater. That day, the value additionally broke above the 100-hour transferring common (close to zero.5715), consolidated at that degree, after which surged to a weekly excessive of zero.57716.

Since hitting that prime, worth motion has been uneven, transferring down, up, after which again down. Right now’s excessive stalled close to Friday’s excessive, whereas right now’s low held on the 100-hour transferring common, prompting a modest rebound. Patrons have constantly defended progressively greater assist ranges since Wednesday, maintaining management of the market.

Key Technical Ranges to Watch:

• Upside Targets:

  • zero.57492 – Final weekend’s excessive
  • zero.5771 – Highs from right now and Friday (break above strengthens bullish momentum)

• Draw back Help:

  • 100-hour transferring common – Holding as short-term assist
  • 200-hour transferring common – Potential draw back goal if worth breaks beneath the 100-hour MA

So long as consumers maintain above the 100-hour MA, the bullish bias stays intact, with merchants looking for additional upside momentum. A break beneath, nevertheless, might set off a transfer again towards the 200-hour MA, the place one other directional choice can be made. For now, consumers stay in management.

This text was written by Emma Wang at www.ubaidahsan.com.



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