Corrective fall stalls at the 200 hour MA and broken trend line
The NZDUSD pushed higher in trading today. In the Asian session, the price moved above 100 hour MA (blue line) and ran up to the 200 hour MA and downward sloping trend line. After a correction lower that stalled near the 200 hour MA (again - green line), the price has moved back higher.
At the high the pair tested the high from Thursday's trading and stalled (near 0.71778). That high remains the next upside target to get to and through if the buyers are to take more control.
Overall, after the dip on Friday that took the pair below the 200 day MA (at 0.7095), and the 38.2% of the move up from the end of September low (at 0.70800) and failed, the NZDUSD has seen the buyers take back more control in measured technical steps higher. Stay above the 200 hour MA now, and the buyers remain more in control.
