NZDUSD finds assist once more — upside momentum hinges on clustered MAs | Forexlive

The NZDUSD continues to search out strong assist close to the 200-bar transferring common on the 4-hour chart at 0.58957. This degree has repeatedly attracted patrons, serving to to stall the draw back and hold the pair inside a consolidative vary.

To flip the tide extra clearly in favor of the bulls, value wants to interrupt above a cluster of resistance transferring averages. That contains the 100-bar MA on the 4-hour chart at 0.59249, together with the 100- and 200-hour MAs slightly below and across the identical area. This confluence of technical resistance has restricted beneficial properties and stays a important zone for upside continuation.

If the pair fails to carry above 0.58957, focus shifts to the 200-day transferring common at 0.58798, which might characterize a deeper corrective transfer and take a look at the resolve of latest patrons.

Key Technical Highlights:

• Support: 200-bar MA (4-hour) at 0.58957

• Break degree under: 200-day MA at 0.58798

• Resistance cluster: 100-bar MA (4-hour) at 0.59249, plus close by 100/200-hour MAs

• Bias: Neutral-to-bullish above 0.58957, bullish affirmation solely above 0.59249

Buyers proceed to defend key assist, however the battle traces are drawn on the MAs above. A breakout or breakdown from this tight vary will dictate the following transfer.