The NZDUSD reached a new high for the year on Monday, but the move quickly lost momentum as buyers turned into sellers, making the breakout short-lived. The pair has since fallen below the 100-bar moving average on the 4-hour chart—a level that has previously provided reliable support during corrective pullbacks.
Notably, the last few breaks below the 100-bar MA were brief and failed to gain downside traction. The question now is whether this latest move can sustain itself. If so, sellers will look toward the 38.2% retracement of the May rally at 0.59948, which also aligns closely with the Friday low at 0.5994—a key target to reinforce bearish control.
A firm break below that zone would increase downside momentum, exposing the 200-bar MA at 0.5971 and the 50% retracement level at 0.5966 as the next critical support levels.
On the topside, near-term resistance is now seen between 0.6018 and 0.6029. As long as the price stays below that range, the bearish bias remains in play.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about nzdusd stalls after yearly high as sellers push below key support 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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