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NZDUSD rebounds w/the US selling after floor area & 100-bar MA holds support at the lows

May 30, 2024 by admin 0 Comments

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The NZDUSD moved lower earlier today reaching a new low for the week, but finding support buyers near the high of a swing area between 0.60733 and 0.60856. The price rotated back to the upside and now trades above its 200 hour moving average of 0.6118, but below it’s 100 hour moving average at 0.61323.

The price has stalled between those levels as it awaits the next shove higher or lower.

The video above outlines the key levels in play and the roadmap for the future.

This article was originally published by Forexlive.com. Read the original article here.