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NZDUSD runs higher as risk on flows send the pair higher. Lower yields. Higher stocks.

May 15, 2024 by admin 0 Comments

The NZDUSD is racing higher today as “risk-on” flows = Buy NZDUSD (at least today).

Technically, the price moved back above the 100 day MA at 0.6088 and then the 50% of the move down from the December 2023 high at 0.6109. Those levels are now close risk levels for buyers. Staying above give the buyers the control. It would take a move below each of those levels to tilt the bias back to the downside (and disappoint the buyers on the breaks higher).

Buyers making a play. How much can they now take the pair to the upside?

NZDUSD trades above 100 day MA and the 50% retracement

This article was originally published by Forexlive.com. Read the original article here.