NZDUSD Soars on robust jobs data: Can the momentum last?

The NZ employment report came in stronger than expected, and that helped to push the NZDUSD above its 200-day moving average 0.60852 (now a close risk level for buyers looking for more upside momentum).

The price is also above is the 100-bar moving average on the 4- hour chart at 0.61085. That level is also a risk defining level for bullish traders.

In this report, I talk about the risks and targets for traders from a technical perspective. The buyers are making a play off of lows going back to November reached earlier this week. Can the buyers keep the momentum going?

This article was written by Greg Michalowski at Source