NZDUSD trades above the next target and looks toward the key 100-day MA | Forexlive

The NZDUSD has the biggest change of the major currency pairs with a gain of nearly 1%. That move took the price above its 50% midpoint of the move down from the May high at 0.61838, and also above a swing area between 0.6202 and 0.62059.

Close support will now be at the 0.6200 level. Stay above that level and a run toward the 100-day moving average at 0.62235 would be expected. The price has not traded above its 100-day moving average since May 23. Key level.

Break back below the 0.6200 level with momentum and a retest of the 50% midpoint at 0.61838 would be targeted.