Comes in at 0.6437
The NZDUSD is positive on the day now after making new lows going back to September 2015, and bouncing and living through the stock market sell off and new lows in commodities. Happy days? Maybe, but not unless the price is able to get and stay above the 100 hour MA.
Yesterday, that MA was broken for the first time since December 31, but then tumbled when CPI came out much weaker than expectations. That should make upside more difficult. So, yes, we have corrected, but can it last? The pair still has some work to do. Get above the 100 hour MA and the "market" might take the correction potential more seriously. Fail...and it is just back filling.
