Broken trend line also an upside target
The NZDUSD has rebounded as geopolitical fears subsided.
Technically, the move lower earlier today was able to do some damage technically.
- The price moved below an upward sloping trend line currently at 0.6678.
- The price fell below the 200 hour MA (green line) currently at 0.66733.
The rebound has returned back to those technical levels and is stalling.
That may continue into the close but come next week, the area will still be an area to eye. Stay below keeps the bears more in control. Move above and there should be more upside potential.
