Falling below 200 hour MA and trend line at 0.7316 level
The NZDUSD has fallen after the GDT auction results showed a 1.7% gain in prices. Although higher, the market has sold off the NZDUSD nevertheless.
The price decline has taken the price below the 200 hour MA and trend line support at the 0.7316 level. There is additional support targets lined up against the 50% of the move up this week at 0.73036, and the 100 hour MA at the 0.7396.
I would expect that patient buyers would show up near the 50%/100 hour MA area now (at 0.7303 to 0.7296 area) with stops on a break below that level. Prices were higher after all. There is the FOMC tomorrow and the RBNZ will also announce on Thursday (local time) in NZ. So finding support near the MA levels seems logical.