Buyers in NZDUSD send the pair toward the week highs (and away from 200D MA)

Technical Analysis

0.6886 is the high for November

The NZDUSD is finding some buyers into the London/European close/weekend.

The price has moved to a new session high and in the process is moving away from the 200 day MA below at 0.6860 and looks to test the November high (high since June) at 0.6886.  The high just reached 0.6885. Can’t get any closer to the high than that. 

Can the pair break higher. 

If so, the 50% of the move down from 2018 high comes in at 0.6930. That would be a target. Of course, the risk is also quite high going into the weekend. A good meeting with US/China will be good for the NZD.  A bad meeting and the price can tumble back lower.   So take the risk into consideration.   

ForexLive

Products You May Like

Articles You May Like

China trade balance (Nov.), exports and imports fall from Oct. and miss median estimates
The NZDUSD dips to the 200 day MA. Head and shoulder neckline broken
Complete Forex Trading System (Advance Training) – How To Trade Forex Education Webinars
WSJ: Details of US/China to include large purchases in coming weeks
U-G-L-Y…UGLY. Stocks tumble over 3% (Nasdaq down -3.8%) on the day

Leave a Reply

Your email address will not be published. Required fields are marked *