NZDUSD corrects decrease after reaching 2025 excessive however work to do to provide sellers extra management

The NZDUSD pushed to a brand new excessive at this time—its highest degree since November 2024—earlier than stalling close to a key swing space between zero.6031 and zero.6045, which additionally consists of the 61.eight% retracement of the decline from the late September 2024 excessive, coming in at zero.60357.

After failing to interrupt by that resistance zone, the pair rotated decrease and is now buying and selling at new session lows, with the newest dip reaching zero.5969. This decline brings the pair nearer to the rising 100-hour transferring common, presently at zero.5964. Yesterday, the 100-hour MA was examined for the primary time since April 9, and consumers efficiently defended the extent.

Heading into the brand new buying and selling day, the 100-hour MA shall be a key technical barometer. Dip consumers could look to lean in opposition to this assist, hoping for a rebound towards the highs and one other take a look at of the 61.eight% retracement and swing space. Nonetheless, a break under the 100-hour MA would shift the main target to the 50% retracement at zero.5930, adopted by the rising 200-hour transferring common at zero.5907.

Sustained motion under each the 50% degree and the 200-hour MA could be wanted to strengthen the bearish bias and counsel a extra significant reversal within the pair’s latest uptrend.

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



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