The NZDUSD moved above its 100-day MA on Friday after trending higher. Today – after some consolidation at the start of the day – the trend higher has continued. The pair is up 1.15% which makes it the biggest mover of the major currency pairs (vs the USD).

In addition to running away from the 100-day MA, the price is now also moving above a swing level at 0.5796. Above that the level at 0.5814 is another target, by the 38.2% retracement of the move down from the September 2024 high to the low in February at 0.5844. If the buyers are to take back control from the sellers, getting and staying above that 38.2% is ultimate needed. Absent that, and the move is just a correction after the trend move lower from September to the February low.

Off note technically, is at the lows last week, the price held above the 200-bar MA on the 4-hour chart (see green line on the chart above). The price bottomed twice against that MA before starting its run higher last week. Bullish.