However, buyers were unable to extend gains toward the 38.2% retracement of the September 2024 high to the February 2025 low, which sits at 0.5844. Today’s high stalled at 0.5830 before pulling back, with the price now testing swing area support at 0.5796—a key short-term level for traders.
Ultimately, a break above the 38.2% retracement is needed to show that the buyers can take back control from the sellers. Absent that and the move higher is a corrective move within a more bearish longer-term technical picture.
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 backs off after run higher yesterday & today stalls ahead of retracement target )
Also on site :