Trend line also provides support
The NZDUSD was surprised by weaker employment at the start of the new trading day and in the NY session, the price has moved down to test the 200 hour MA at 0.72488. That level held support but the rally stalled at the 100 hour MA above at 0.7270.
After the 10 AM ISM data,the price has moved down once again to test the 200 hour MA. We are holding so far.
Also in the area is a trend line connecting recent lows on the hourly chart.
A break below the 200 hour MA will have the pair looking to test the 0.7238 and then lows near 0.7220 area.
Right now, the market is trading the MA's, but keeping the bears in control below the 100 hour MA.