The NZDUSD is higher, on the day, but the price is scratch NY hollow




Employment has been strong NZ employment numbers have been strong at the start of the new day, and with the NZDUSD near the bottom levels of the year (now have a triple bottom at 0.6817), you would expect a push higher.

There was, the price moved from 0.6817 to a high of 0.6930 and in the process, above the 200 hour MA (at 0.68908 now), but the price has turned back to 0.6882 where it is scraping along the floor of the NY session. It has also been swing lows AFTER the spike higher in the Asian session (see the red circles 1 and 2 in the chart below)
The new day to make a rotation higher?
WillGet back above the 200 hour MA at 0.68908 in the new trading day, and then the 200 bar MA on the 5-minute chart (green line in the chart below, 0.69017). Getting above and staying above would be the reconquest of the MAs, and to get the price above resistance at 0.6900.
A failure to find support buyers along this floor, and the 100 hour MA at 0.68166 will be eyed as the next downside target. The market will then see if this level holds. If not, the buyers are likely to really throw in the towel and give up.



Добавить комментарий

60