NZDUSD Technical Analysis: Price boxed in by a multi-timeframe moving average cluster | Forexlive

The NZDUSD is currently caught in a technical stranglehold, with price action confined between a dense cluster of key moving averages across multiple timeframes. On the topside, rallies have repeatedly stalled near the 100-bar moving average on the 4-hour chart at 0.59273, a level that has served as firm resistance over the past two days. Just below that, the 200-hour MA at 0.59025 and the 100-hour MA at 0.58996 are acting as a short-term pivot for the buyers and sellers (below is a bearish tilt/above is a bullish tilt)

On the downside, the pair is supported by the converged 200-day moving average and the 200-bar MA on the 4-hour chart, both of which are rising and now aligned near 0.5880–0.5881. This convergence is a critical support zone. The 200 bar MA on the 4-hour chart has been tested multiple times and has so far found buyers near the level, asserting its technical significance.

With price trading right in the middle of this compressed range, the next break—either above 0.5927 or below 0.5880—is likely to set the near-term directional tone. A move above would shift the bias more bullishly toward the 0.5968 level (high from last week), while a break below could trigger a rotation back toward 0.5852 to 0.5860 (swing area) followed by the 38.2% retracement level at 0.58204.

🔑 Key Levels

• Resistance:

  • 0.59273 (100-bar MA on 4-hour)

  • 0.5950, 0.5968 (high from last week)

• Support:

  • 0.5881 (200-day MA)

  • 0.5880 (200-bar MA on 4-hour)

  • 0.5852-0.5860 (swing area)

  • 0.5820 (38.2% retracement)

📉 Bias:

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