The NZDUSD buyers based the pair today at the 200 and 100-day MAs near 0.6075 to 0.6078. Those were just above the 50% of the move from the October 2023 to the December 2024 high. That midpoint comes at 0.6070.
So with the cluster of key technical levels – the 50%, 100-day and 200-day MAs all with 10 pips of each other – and with the price basing at those levels today and moving higher, are the buyers tired of the ups and downs that has confined the pair for the last 5 trading weeks? That is what may be at stake going forward.
IN the video, I talk to this dynamic and outline what needs to be done to increase the bullish bias and to keep the buyers in control.
Read the full article here
