On Wednesday, the pair briefly broke above another swing area between 0.5684 and 0.5695, but the breakout was short-lived. This zone has since acted as a stronger ceiling, reinforcing its importance heading into the new trading week.
If price stays above this cluster, a move back toward the 0.5684–0.5695 swing area is likely, with a breakout potentially targeting January's high at 0.5723.If price falls below, it could open the door for a drop toward the 50% retracement at 0.5619 and beyond. Move below that level and the door opens for further declines toward 0.5881 in 0.55918
This cluster of levels will be crucial in determining the next directional move for the NZD/USD.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( NZDUSD corrects lower into a cluster of technical levels including 100/200 hour MAs )
Also on site :