As the USD moves lower, the NZDUSD and the AUDUSD are stretching to new highs for the day/week.
- For the NZDUSD it has moved above its 200-day moving average of 0.6067, and tests its 200-bar moving average on the 4-hour chart at 0.6075. Getting above each would increase a bullish bias.
- For the AUDUSD, the pair is moving away from its 100-day moving average of 0.6598. The price also moved above a swing area between 0.6612 and 0.66239. Staying above those levels, keeps the buyers and play/and in control. The next target comes against the 50% midpoint of the move down from the December high at 0.66559.
This article was written by Greg Michalowski at www.forexlive.com. Source