NZDUSD tests the 200 hour MA and stalls
The NZDUSD moved up today and in the process, the price moved up to test the 200 hour MA at 0.6362. The sellers leaned against the level and the price has modestly come off the MA level. In the new trading day, the swing are between 0.6345 and 0.6348 will be targeted on more selling. Move below that, and the 100 hour MA at 0.63275 will be eyed as the next downside target.
Conversely, break above the 200 hour MA has trader looking toward the 38.2% at 0.6371 followed by the high from last week at 0.6388.
For the AUDUSD the technical picture is similar.
Looking it its hourly chart below, it too moved up to test the 200 hour MA at 0.6972. Sellers leaned against that MA (and also near the 38.2%) on the test. The price has rotated modestly to the downside and trades at 0.6966 currently.
In the new trading day a move above the 200 hour MA is needed to kickstart the next run higher.
Conversely, more selling would have traders looking back toward the 100 hour MA at 0.6943.
AUDUSD falls from the 200 hour MA