Below I take a look at some of the technical center driving the major currency pairs.
There should be some pause near those levels on the first look at least. A break below would open the door for further selling momentum.
NZDUSD: The NZDUSD is breaking to a new high for 2025 and going back to mid-December and is testing a swing level at 0.57535. A move above that level would open the door for a resistance target near 0.5796 and above that the falling 100 day moving average of 0.58144. The NZDUSD is moving higher despite a 50 basis point cut yesterday by the Reserve Bank of New Zealand
AUDUSD: The AUDUSD is trading at its highest level since December 12, reaching a high of 0.6393. The next major target comes at the 38.2% retracement of the move down from the end of September high. That level comes in at 0.64139. The falling 100 day moving average is and 0.6425. The price is not traded above its 100 day moving average since October 21, 2024. Getting above those levels would be more bullish from a medium/longer-term perspective. The RBA rates by 25 basis points this week. It was th first cut in over four years, and the first cut after 10 meetings of unchanged policy.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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