The NZDUSD has moved lower over the last 3 trading days in the process retested at the high of a swing area on the daily chart near 0.59028 (see chart below). Support buyers came against that level and have pushed the price higher in trading today from a technical perspective. Buyers are showing a willingness to keep control by holding that support level.Drilling to the hourly chart below, the move lower over the last 3 days did break below the 100-hour moving average currently at 0.59468, but fell short of the rising 200-hour moving average currently at 0.58984. The price action on the corrective move lower also moved below the 50% midpoint of the move down from the October high at 0.59135.
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