The AUDUSD and NZDUSD have technical stories that are similar. On the downside, the low prices from yesterday gave traders is something to lean against on dips. For the AUDUSD a swing area and downward-sloping trendline on the daily chart stalled the fall. On the topside the falling 100-hour moving average is resistance, and would need to be broken to increase the bullish bias.
For the NZDUSD, the 61.8% retracement of the range of the move up from the 2022 low to the 2023 high stalled the fall as did a downward sloping trendline. On the topside, like the AUDUSD, the falling 100-hour moving average is resistance, and would need to be broken to increase the bullish bias.
This article was written by Greg Michalowski at www.forexlive.com. Source