The NZDUSD has been choppy today, swinging between gains and losses. During the European and early U.S. sessions, the pair’s advance stalled near its falling 100-hour moving average, which currently sits around 0.5726 — a key pivot for traders heading into the new day.
As long as price action remains below 0.5726, the downside bias stays intact. A sustained move above that level, however, could trigger short covering, with the 200-hour moving average at 0.5764 becoming the next upside target. A break above the 200-hour MA would shift the bias more decisively in favor of buyers.
In short, watch the 100-hour MA — it’s the technical battleground likely to define the next directional move. The video above outlines the key levels in more detail.
