NZDUSD bounces off 100 hour MA
The NZDUSD opened the day between its 100-hour moving average below at 200-hour moving average above (blue and green lines respectively). The initial try was to extend above the 200-hour moving average. That did not get very far. The subsequent fall tried to get below the 100-hour moving average, and that did not get very far either.
The price in the New York session was finally able to break above the 200-hour moving average (green line in the chart above) with momentum, and there has been an extension toward a swing area near 0.60829 and 0.60949. Get above that level and the swing highs from Friday at 0.61105 and the swing high from May 25 at 0.61138 will be targeted.
Ultimately if the buyers are to take more control getting above the 38.2% retracement of the month of May trading range at 0.61367 and staying above would be needed. Just above that is the 200 day moving average at 0.61487.
Over the weekend I did a video on the technicals for the NZDUSD heading into the new trading week. You can watch a video below.