The 50% and swing area stalled the fall here....
The NZDUSD fell from the start in trading today, as the good news from last week was softened a bit. The fall took the price below the 100 and 200 hour MA (blue and green lines) and bounced to test the 100 hour MA. The new low for the day reached a swing area on the hourly chart above at 0.6276 to 0.62824. The 50% of the move up from the October 1 low at 0.62784 was straddled by that swing area too.
The pair is moving higher and looks toward the 200 and 100 hour MAs above at 0.6304 to 0.6312 area (blue and green lines). That is the topside target now. Stay below is more negative for the pair.
