Tough level on a down day…
The NZDUSD has tumbled (dollar higher) with many of the other pairs today.
Technically, the pair fell below the 100 bar MA on the 4-hour chart and trend line at 0.7109 area. That opened up more selling and traders took it down. The pair has stalled at a key level at the 50% at 0.70696 and the 100 hour MA at 0.7073. The low stalled at 0.70965. When the 50% and a MA converge, it tends to create a stall point.
Forex technical analysis: NZDUSD stalls near 100 hour MA/50% retracement
