Big run up in the NZDUSD today
The NZDUSD has a low to high trading range of about 440 pips. That's huge. In the process, the price first moved sharply lower by about 270, before reversing and racing higher (and to new highs in the process).
The run to the upside moved up to a high price of 0.5913. That was just short of its falling 100 hour moving average at 0.59194 (blue line in the chart above). The high also was just below a topside trend line connecting highs from March 11 and March 16.
The current price trades around the 0.5825 level. The price is also back below the broken 38.2% retracement at 0.58413. It will take a move back above that level to solicit more upside potential. However that 100 hour moving average and trendline needs to be broken.
On the downside a move back below the lower broken trend line 0.57608 level would ruin the bullish intraday bias.