The NZDUSD moved lower yesterday and found support at a swing level off the daily chart and near a downward sloping trend line on the hourly chart.
The subsequent rise today has seen the price move up to test a key hourly moving average. That moving average held resistance yesterday, and it held resistance on a few occasions and days last week.
In this video, I outline the support and resistance targets defined by the technicals and explain why they are so important going forward.
This article was originally published by Forexlive.com. Read the original article here.