-
Forex technical analysis: NZDUSD respects recent highs
The NZDUSD followed its sibling AUDUSD lower after the surprise Australia GDP (-0.5%). The fall bottomed against the trendline/38.2% retracement/200 hour MA (green line in the chart below) and quickly rebounded. From that base, and realization that it does not need to follow the close neighbor, the price started to rally back higher. It even may have helped to drag the AUDUSD higher as well (ironically). Anyway, the rally has continued in the US session and the pair has moved to test the highs from yesterday at 0.7160 and the high from last week at 0.71688. Looking at the daily chart below, the rally has also tested ... (full story)