NZDUSD tests key swing area resistance as buyers push higher after MA support at lows ...Middle East

The move to the upside was helped over the last few days by support holding.

Last Thursday, buyers leaned against a rising trend line, which held support and helped set the stage for the current bullish move.On Friday, and at the start of trading on Monday, the price corrected down to the 100-hour moving average and found support buyers. BullishToday, the low price held above both the 100-hour moving average and the 100-bar moving average on the 4-hour chart—a dual technical confirmation that invited fresh upside interest. Bullish

On the downside, watch for support at:

Followed by the 100-hour MA and trend line support near 0.5920.

Resistance: 0.6000 (high of swing area), 0.6028 (2024 high)

Bias: Bullish above moving averages a breakout above 0.6000 and the high for the year strengthens the upside case

This article was written by Greg Michalowski at www.forexlive.com.

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