NZDUSD finding some support buyers against its broken at 200 hour moving average

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NZDUSD finding some support buyers against its broken at 200 hour moving average

<p>The NZDUSD moved above both its 100 and 200 hour moving averages today (blue and green lines in the chart above). The rise above the 200 hour moving average was the 1st since August 17. The price tested that moving average level on a number of occasions (see the green line in the chart above).</p><p>The move to the upside stalled ahead of a swing area between 0.6155 and 0.6166. The high price today reached 0.6151 before rotating back to the downside. However there seems to be buyers who are looking to buy against the broken 200 hour moving average at 0.60872. That level will be a key barometer going forward. Stay above and buyers are still in play and clinging to some control at least in the short-term. Move below and below the 100 hour moving average at 0.60656, and the dip buyers are not feeling all that well.</p>

                This article was written by Greg Michalowski at forexlive.com.

Source: NZDUSD finding some support buyers against its broken at 200 hour moving average

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