NZDUSD technical update: Testing a key barometer cluster | Forexlive

The NZDUSD is currently trading near a critical technical zone defined by a convergence of major moving averages. The 100-hour MA, 200-hour MA, and the 100-bar MA on the 4-hour chart are tightly grouped between 0.5956 and 0.5965, creating a key barometer area for traders.

This cluster has acted as a pivot in recent sessions, and price action around this zone will be crucial in determining near-term bias:

• Hold above 0.5965 keeps buyers in the game, with eyes on the 0.5994-0.6003 resistance zone.

• Break below 0.5956 and stay below would shift momentum in favor of sellers. 0.5943 (low from yesterday’s trade). 0.5893. Corrective low from last week’s trading and lowest level going back to April 16

Momentum will likely follow the break. Watch this zone closely.

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