But has the 200 day MA above
The NZDUSD has moved the 100 day MA at 0.70803. That is a bullish development. Stay above keeps the buyers in control.
Having said that, the pair is not out of the woods. The 200 day moving average looms above at 0.7112. The 50% of the 2021 trading range comes in at 0.71342. Those remain targets that would further increase the bullish bias.
The pair has moved within a swing area that is home to a number of swing highs and lows going back to December (see green numbered circles).
Looking at the hourly chart, the pair has now erased the declines from the August 4 high. The price is up 8 of the last 10 trading days on that move higher. There was one dip below the 100 hour MA since breaking above on August 23.
A swing area below the 100 day MA comes in at 0.70612 to 0.7073 would increase the bearis bias.
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