NZDUSD rebounds after testing 38.2% retracement and finding support buyers ...Middle East

After a trend-like move like we saw to the upside in August, the price of the NZDUSD has been correcting lower over the last 9 or so trading days. The price action on Friday after the US jobs report saw a spike higher to swing area resistance at 0.6253, but then reversed lower, and fell below the 100 bar MA on the 4-hour chart for the first time since August 7.Although the price of the NZDUSD did move briefly back above the 100-bar MA yesterday, buyers turned to sellers once again. Yesterday the 38.2% retracement of the trend move higher in August was tested at 0.6126 and found buyers near that level. After a trend move, getting and staying below the 38.2% is the minimum target that shows th

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NZDUSD rebounds after testing 38.2% retracement and finding support buyers ...Middle East

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