Lots of sideways swing areas in play
The NZDUSD has stalled the fall today near the 100 and 200 hour MAs. The price has dipped below the levels on the run higher in the dollar this morning, but has rebounded to between the two moving averages between 0.71847 and 0.7196. Traders sit on the fence and are waiting for the next shove.
A move higher would look toward the swing area at 0.72197 to 0.72274.
A move lower would look toward the swing area at 0.71489 to 0.71526.
There are a number of swing areas including down at the lows where there is a double bottom at 0.70985, and up at the recent high at 0.7272 area.
