First time since April 24th
The NZDUSD has moved above the 100 hour for the first time since last Monday.
The pair trended to the downside last week, bottoming on Thursday at 0.68476. The lows on Friday and again today, could not breach that low and the market has moved steadily higher over the last 5-6 hours.
The 100 hour MA comes in at 0.6892. Stay above and close above should be more bullish for the pair.
Looking at the daily chart, the lows from Thursday, Friday and again today were below the December 2016 lows which put the price at the lowest level since June 2016. So that break failed. The price should have gone lower and it could not. The question now is can the break of the 100 hour MA, attract more buying?
