NZDUSD trade near lows but remains above a key cluster of support
The NZDUSD is trading to new session low, and in the process is retesting its 200-day moving average at 0.60893. That is the high of a cluster of support including a swing area between 0.60788 and 0.60856, and the 50% midpoint of the move up from the October low. That level comes in at 0.60716. If the price is able to get below this cluster of support, it would open the door for further downside with the 100-day moving average at 0.60418 the next major target. This article was written by Greg Michalowski at www.forexlive.com.
The NZDUSD is trading to new session low, and in the process is retesting its 200-day moving average at 0.60893. That is the high of a cluster of support including a swing area between 0.60788 and 0.60856, and the 50% midpoint of the move up from the October low. That level comes in at 0.60716.
If the price is able to get below this cluster of support, it would open the door for further downside with the 100-day moving average at 0.60418 the next major target. This article was written by Greg Michalowski at www.forexlive.com.
