NZDUSD bounces off swing degree assist at zero.5912. The 100/200 hour MA at zero.5975 eyed above

The NZDUSD moved larger into the Election Day, however discovered keen sellers close to the 100 bar MA on the Four-hour chart. Because the election outcomes began to come back in, the patrons turned to sellers.

ON the best way decrease, the value fell beneath the 100/200 hour MAs close to zero.5975 and fell beneath the low from final week’s buying and selling at zero.5938.

The low prolonged to zero.5912 which occurred to be a swing degree low again on August 6, simply earlier than reversing to the upside – a run larger that didn’t cease till zero.6377 on the finish of September

All that transfer larger has been erased with right this moment’s bounce.

What subsequent?

The 100/200 hour MAs at zero.5975 are actually shut resistance. It can take a transfer above that degree to provide the patrons a win. Absent that, and the patrons usually are not profitable. The sellers would nonetheless be in agency management

This text was written by Emma Wang at www.ubaidahsan.com.



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