Falls below 0.68088 MA/trend line
The NZDUSD is making a break below the 100 day MA and a trend line at 0.68088 level. Falling below the level, tilts the bias more to the downside. We are also moving below the 50% of the move up from last week's low at 0.6805.
The 5 minute chart is showing more intraday bearishness. The price in the London session moved up and down at higher levels. However, when the price stalled and the 100 bar MA and fell below the 200 bar MA with more momentum, the buyers turned back to sellers. More recently, the fall below the 100 day MA (overlay on the 5-minute chart at 0.68088) is showing that the selllers are trying to put a new lid on the selling. Stay below keeps the sellers more in control. Move above, and the bearish waters might become a little more two way...intraday.
