Trades above and below the 100 hour MA
The NZDUSD is mired in an up and down range today. Between the highs and lows sits the 100 hour MA (blue line). The MA is not giving clues (and did not yesterday as well) suggesting uncertainty by “the market”. They don’t know what to do.
Since July 21, the pair has mostly traded between 0.6625 and 0.66925. A downward sloping trend line from the failed extreme yesterday comes in at 0.66697 currently (and moving lower). A move above that trend line would look toward the high for the day at 0.6678. Above that is the swing area at 0.6688 to 0.66925.
The lower trend line comes in at 0.6641.
Below that, the 200 hour MA is at the low from yesterday at 0.66312. The 38.2% is at 0.66256.
What way do you like it. If looking for more “risk on” or USD selling, the 200 hour MA/38.2% are key levels to stay above. If in favor of “risk off”, stay below the trend line and high for the day.