The NZDUSD raced greater yesterday on the again of the lower CPI knowledge yesterday. The run to the upside took the NZDUSD above its 100-day MA (blue line on the chart at 0.60017). The run to the upside reached as much as excessive at present of 0.6054. That was between a swing space between 0.60467 and 0.60598.
The subsequent rotation to the draw back in the early New York session noticed the pair transfer all the way down to retest the damaged 100-day shifting common (blue step line on the chart beneath). The low value reached 0.60026 and located help consumers in opposition to that key technical stage. The value is again up close to 0.6030.
What subsequent?
Support has been established at the 100-day MA/0.6000 pure help stage. Hold there, and the consumers have the management.
On the topside, getting above the swing space between 0.60467 and 0.60598 would improve the bullish bias (or put a ceiling on the pair). Break above, and the 50% of the transfer down from the July excessive at 0.6092 adopted by the falling 200 day MA at 0.6100 can be the subsequent main technical targets. The final time the value of the NZDUSD traded above the 200 day MA was again on July 27.
