Tests 100 hour MA
The NZDUSD has been dragged higher with the USD NY weakness and tests the 100 hour MA (blue line in the chart below). The RBNZ cut rates at the start of the day and also talked of further cuts/the currency too high. But a correction saw the price spike up to the 200 hour MA and the 50% at the 0.6339 area. That was sold. Now with the rally, traders have to decide again....is the 100 hour MA my level to sell. Stay below and the sellers are showing the move to the 200 hour MA was a fluke... Move above and there may be another test.
