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Monday, June 21, 2021

NZDUSD tests its 200 hour MA

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Can the buyers keep the momentum going through the level

The NZDUSD is up testing its 200 hour MA at 0.72405 and making a new high for the day. The pair in the NY session has moved further away from it’s 100 hour MA at 0.7208 and the 50% midpoint of the move down from the May 26 high at 0.72203.  Stay above the 100 hour MA and 50% is a more bullish bias. 

Can the buyers keep the momentum going through the level

If the 200 hour MA can be broken, the next target comes in at the swing area between 0.72651 and 0.7270.  Above that the 0.72834 to 0.72873 area and the high from May at 0.7301 to 0.73157 will be targeted.  

The low to high trading range for the pair is up to 55 pips. The 22 day average is 72 pips. So there is room to roam on a break.  

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