NZDUSD climbs after sellers miss their shot at breakdown | Forexlive

The NZDUSD continues to grind higher after sellers failed to hold a break below key support at the 0.5825 swing area and the 200-bar moving average on the 4-hour chart (lower green line at 0.58525). That dip yesterday and into today, quickly reversed, and buyers have regained control, driving the pair back above several key topside technical levels.

Since then, the NZDUSD has been checking off resistance milestones, including:

• The 200-day MA at 0.5883

• The 100-hour and 200-hour MAs at 0.5907 and 0.5835 respectively

• The current push is targeting the 100-bar MA on the 4-hour chart, a level near 0.5949

Momentum remains on the side of buyers, and a move above 0.5949 would open the door for a run toward the next major resistance zone near 0.6000 and above that the extremes for 2025 between 0.6018 and 0.6028.

The sellers had their shot yesterday and at the start of trading today. It’s the buyers turn now. So far, the MAs have been ticked off one at at a time, but there is one more to get through at 0.59494.

Key technical levels:

• Resistance: 0.59494 (4H 100-bar MA), 0.6000, 0.6018 to 0.6028 (highs for the year)

• Support: 0.5935 (swing/MA cluster), 0.5907 (100 hour MA), 0.5883 (200 day MA),0.58525 (200 bar MA on the 4-hour chart)

• Bias: shifting back to the buyers after the sellers had their shot and missed.