The price is coming off the highest level since April 2018
The price of the NZDUSD moved to the highest level since April 2018. In the process, the pair moved above the swing high from June 2018 at 0.70591. The high price reached 0.70836 today before rotating back to the downside. The prices back below the June 2018 swing high at 0.70591. Stay below is a tilt to the bearish side on the failed break.
Drilling to the hourly chart below, the price decline has taken the price toward an old trendline support line along with the rising 100 hour moving average at 0.70313 area. The tilt to the downside from the weekly chart, would increase on a move below this technical level. Failure to get below, however, would increase the bulls vs bears fight with 0.7059 as resistance and the 100 hour MA at 0.70313 as support.
