Stays above a lower trend line
The NZDUSD is consolidating the days gains with up and down trading between 0.5972 and 0.60147. The high level today stalled just ahead of a topside channel trend line. The recent low stalled just ahead of a lower channel trend line (currently at 0.5975).
The last low also tested a swing area in the 0.5972-78 area. Stay above, and the bulls/buyers remain in control. Move below and we should see some probing to the downside with the rising 200 hour MA at 0.59457 as the next target.
