NZDUSD finds support buyers against its broken 200 hourly moving average

NZDUSD breaks above 200 hourly MA

The NZDUSD broke above its 100 and 200 hourly moving averages today (blue and green lines in the chart above). The rise above the 200 hourly moving average was the first since Aug. 17. The price has tested this moving average level several times (see the green line in the chart above).

The bullish movement stopped before a swing zone between 0.6155 and 0.6166. The high price reached 0.6151 today before reversing lower. However, there appear to be buyers looking to buy against the broken 200 hourly moving average at 0.60872. This 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 hourly moving average at 0.60656, and bearish bulls aren’t feeling too good.


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