December 4, 2022

Forex Solution

Learn To Trade Forex

NZDUSD tests the May swing low

1 min read

Low from May tested at 0.71148

The NZDUSD has been trending lower over the last 9 hour of trading.  The move has taken the price from a high of 0.72098 to the lows of 0.71153 (or about 95 pips).   That low took out the June low at 0.71248, but is so far just testing the May low at 0.71148.  

Low from May tested at 0.71148

Helping the bearish bias today was the selling near the 200 hour MA (green line). At the high for the day, the price did move above that MA briefly, but quickly reversed.  The move below the 100 day MA at 0.71795 added to the bearish bias. The fall below the low for the week at 0.71644 was another bearish catalyst. 

The NZDUSD is the biggest mover today with a decline of -1.12% currently. 

Invest in yourself. See our forex education hub.




Source link

Copyright © All rights reserved. | Newsphere by AF themes.