Today, the pair has experienced choppy, range-bound trading. Buyers, however, stepped in near yesterday’s low at 0.5648, just above the rising 100-hour moving average (0.5643). Notably, the price also rebounded off the 100-hour moving average on Tuesday, reinforcing its importance as a support level. A break below this level would strengthen the bearish outlook.
On the upside, resistance is found at the falling 200-bar moving average on the 4-hour chart (0.56718). A breakout above this level could shift momentum toward a more bullish bias, targeting the swing area and the 38.2% retracement zone between 0.56837 and 0.56917.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( The NZDUSD stalled the rise yesterday at the 38.2% retracement and today at a falling MA. )
Also on site :