NZDUSD sellers make a move but fail on the break ...Middle East

Sellers had their shot below 0..5883 to 0.58927. They missed.

In between the support at 0.58836 and the resistance at 0.6028, is a cluster of moving averages (100-hour, 200-hour, and 100 bar MA on the 4-hour chart) around 0.5945–0.5955 now sits near the middle of the recent range and represents a key barrier for buyers on any rebound.

Key levels to watch:

Resistance: 0.5950–0.5965 (MA cluster), then 0.6018

Bearish confirmation: Sustained break below 0.5886 opens room toward 0.5820 and 0.5771

This article was written by Greg Michalowski at www.forexlive.com.

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