The bias tilts more to the upside
The NZDUSD is trading above its 200 hour moving average and 50% retracement of the move down from last week’s high. Both those levels come in at 0.70200. The price just moved above that level and currently trades at 0.7032.
The next target comes in at the 200 day moving average at 0.70495 (see green line in the chart below). The price traded above and below that moving average last week, and into the start of this week. A move back above that moving average would tilt the bias on the daily chart more to the upside.
This article was originally published by Forexlive.com. Read the original article here.