The 100-hour moving average and the 200-day moving average are converging to 0.7114
NZDUSD has turned back to minus after trying to rise from Tuesday’s high of 0.71523. The pair was higher at the beginning of the day as stocks opened at a fixed profit, but those gains declined and prices began to fall.
The price of the pairs is approaching the 100-hour moving average and the 200-day moving average, both at 0.7114. The moving average below this 200 hours is 0.71037. Earlier today, the price fell below the 200-hour moving average (during the Asian session), but sales dried up and the price rose rapidly.
The weekly low was set to close to the 100-day moving average and the rising 200-hour moving average on Wednesday (green line). At that time, these moving averages were close to 0.7076. Buyers relied on the level and relied on Thursday’s 200-hour moving average before rising higher.
The price has been trading between 0.7076 and 0.7169 since September 2. At some point, the price will break out of the range since then.