| NZDUSD price breaks below the 50% midpoint of the range since the 2022 low. The NZDUSD yesterday moved down to test the 50% midpoint of the range since the 2022. That level comes in at 0.60242. The low price yesterday reached 0.6024. Today, the price moved below that 50% level, and it opened the door for further selling. The current prices trading to a new session lower 0.5987. Risk on a daily chart is a move back above the 50% retracement. Stay below is more bearish. |
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Admittedly, the technicals are getting chopped up with the up and down volatility, but it is a reflection of all the above and nothing we can do.
So fall in like with your trades. Don’t fall in love with them.
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In this technical report, I take a look at the EURUSD, USDJPY, GBPUSD and the USDCAD and outline the levels in play and show/explain why.
The EURUSD and the GBPUSD move back toward the 100/200 hour MAs
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The USDJPY is trading back below its 100 day MA. What next?
In the morning Forex technical report, I take a look at the EURUSD, USDJPY and the GBPUSD. Both the EURUSD and GBPUSD or higher, but have backtracked lower and tests the 100 and 200 are moving average areas. For the USDJPY, it had a shot above its 100 day moving average both yesterday and into today’s trading, but has failed and trades below the level. Can the sellers stay below that key technical barometer today?
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