The NZDUSD moved to a brand new session low, and within the course of moved down to check the excessive of a swing space close to 0.58699. It additionally examined the 100 bar transferring common on the 4-hour chart at 0.5871. Support patrons got here in towards the twin technical ranges and pushed the worth again towards the 50% midpoint of the move up from the October 26 low. The degree is available in at 0.5886. On the topside sits the 200 bar transferring common on the 4-hour interval chart at 0.59064.
With the worth buying and selling close to the 50% retracement, and between (close to the center) the 200 and 100 bar transferring averages on the 4-hour chart, the patrons and sellers are each ready for the next shelf. Getting above 0.5906 with momentum would improve a bullish bias. Moving under the 100 bar transferring common and the excessive of the swing space close to 0.5870 with momentum would improve the bearish bias.
The above video, tells the technical story and descriptions the key ranges in play.
