The NZDUSD is moving higher today after the dip lower in the Asian/early European session found willing buyers near the 100 hour MA. Buyers have been leaning near that MA over the last 6 or so trading days. There have been some small break (on Friday and also on Thursday), but not for long.
Today’s run higher has now taken the price above the swing area between 0.62668 and 0.62728 getting and staying above that level would have traders looking toward the high price from the end of August at 0.62981. A move above that level would have the pair trading at the highest level going back to January 3. The high price on that day reached 0.63248 which is a high price for the trade year
This article was written by Greg Michalowski at www.forexlive.com.