Tests 200 bar MA and lower trend line...
The NZDUSD has extended to a lower trend line and the 200 bar MA on the 4-hour chart. This is a low risk area in a tumbling market. The range today in the NZDUSD is above the 22 day average (106 pips vs 82 pips). So it is 129% of what is normal. Is that enough to catch a falling knife against support?
There may be some profit taking buyers. There may be some traders looking for that dip (ala the GBPUSD). The pairs story is more a risk off story as the US stocks tumble today. That muddies the water a bit. Plus the 50% of the move up from the recent swing low going back to July is down at 0.72178 (the 50% is outlined on the chart above).
So if buying, don't risk much. It is a confluence support level but there may be more room to roam.