In addition to running away from the 100-day MA, the price is now also moving above a swing level at 0.5796. Above that the level at 0.5814 is another target, by the 38.2% retracement of the move down from the September 2024 high to the low in February at 0.5844. If the buyers are to take back control from the sellers, getting and staying above that 38.2% is ultimate needed. Absent that, and the move is just a correction after the trend move lower from September to the February low.
Off note technically, is at the lows last week, the price held above the 200-bar MA on the 4-hour chart (see green line on the chart above). The price bottomed twice against that MA before starting its run higher last week. Bullish.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about nzdusd continues its trend higher after breaking above 100 day ma was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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