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Forex technical analysis: The up and down ride of the NZDUSD

Floor is getting stronger at 0.6495-0.6500

The NZDUSD has been up and down today in a narrow trading range. So why the bother? The reason is there are some key levels above and below which could make a potential break a momentum moving event.

ON the topside, the 100 day MA at 0.6544 level was broken last week. The level tried to hold above but failed. and has been below the level since.

ON the downside, the floor at the 0.6495-0.6500 area now has 6 tests including today's low.

A break of either extremes should see the confined range, expand in the direction of the break.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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