$NZDUSD testing 100 hour MA support

Written January 7, 2010 at 10:54 AM EST by  

gregmike-06152

The NZDUSD has been rallying for the last 3 or so weeks. During that time the price has been able to track above the 100 hour MA . Over the last 3 days, the price is consolidating and over the last 6 hours the pair is testing this moving average hard. The current 100 hour MA comes in at the 0.7320 level. .  The low for the day comes in at the 0.7312.  These levels are key support. A move below should lead to further downside momentum for the pair with a target being the 38.2% retracement at the 0.7253 and then the 200 hour MA at the 0.7226 level and rising.

Keep the key levels in mind.

No Responses to “$NZDUSD testing 100 hour MA support”

Add a comment