The NZDUSD continues to find solid support near the 200-bar moving average on the 4-hour chart at 0.58957. This level has repeatedly attracted buyers, helping to stall the downside and keep the pair within a consolidative range.
To turn the tide more clearly in favor of the bulls, price needs to break above a cluster of resistance moving averages. That includes the 100-bar MA on the 4-hour chart at 0.59249, along with the 100- and 200-hour MAs just below and around the same region. This confluence of technical resistance has limited gains and remains a critical zone for upside continuation.
If the pair fails to hold above 0.58957, focus shifts to the 200-day moving average at 0.58798, which would represent a deeper corrective move and test the resolve of recent buyers.
Key Technical Highlights:
Support: 200-bar MA (4-hour) at 0.58957
Break level below: 200-day MA at 0.58798
Resistance cluster: 100-bar MA (4-hour) at 0.59249, plus nearby 100/200-hour MAs
Bias: Neutral-to-bullish above 0.58957, bullish confirmation only above 0.59249
Buyers continue to defend key support, but the battle lines are drawn at the MAs above. A breakout or breakdown from this tight range will dictate the next move.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about nzdusd finds support again upside momentum hinges on clustered mas 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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