Forex technical analysis: NZDUSD tests and holds ag. 100 hour MA

100 day MA above...

The NZDUSD pushed above the 100 day MA yesterday at the 0.7198 area. It was the first move above that level since November 11th, but the push failed and the price rotated back lower - helped by the plunge in the EURUSD (and stronger USD).

Today the high stalled at the 0.7188 level - a good distance away from the 100 day MA at 0.7198. The fall has taken the price down to the 100 hour MA at the 0.7150 level currently. The last three hours has seen the price finding support buyers/profit takers against the level.

Be aware. Although there are a slew of other support levels below the 100 hour MA including the 200 bar MA on the 4 hour at 0.7144, the 50% and trend line at the 0.7132 area and the 200 hour MA at 0.7126, a break below the 100 hour MA should solicit more selling.

So far though, we have buyers below against support and sellers likely eyeing the 100 day MA above.