NZDUSD tests the 100 hour MA again

Technical Analysis

Moves above trend line too

The NZDUSD is back up retesting the falling 100 hour MA.   On Wednesday, the price moved above the MA, but momentum could not be sustained.  Yesterday, the price tested the MA again (and the topside trend line) and fell back down.

Moves above trend line too
Today, the price has been able to extend above the trend line (bullish), but is testing the MA (again) and having some trouble extending higher.  

The good news technically for the buyers (that is) is that the current bar low was able to stay above the broken trend line at 0.66309.   Staying above that line gives the buyers some control and hopes for a move above the topside resistance levels.   

A break above the 100 hour MA will have the 100 bar MA on the 4-hour chart to contend with at 0.66455.  A break above that level will look toward the 0.66588 level (38.2% retracement), and then the falling 200 hour MA at 0.66695.  


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