A close above will be the first since last Friday
The NZDUSD has point back above its 100 hour moving average currently at 0.72627 as
major stock indices move back into the black ahead of the Fed Chair Powell's virtual event at the Wall Street journal at the top of the hour.
The pair last closed above the 100 hour moving average back on February 26 (last Friday). Earlier today, the price took a quick peek above the MA line, but the move failed.
Overall, trading today in the pair has seen a number of ups and downs. So the break may again be shortlived (the price has yet to trading to a new day high at 0.72723). If the price starts to trade more comfortably below the MA level, we could see the buyers square up.
Nevertheless, until then, the buyers are making a play to take more control.
A move above 0.7272 high for the day, will have traders looking toward the 38.2% retracement and the highs from Tuesday and Wednesday near the 0.7300 to 0.7306 area.
