The NZDUSD and the AUDUSD are both trading higher for the day/week. What next technically?

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 Source