NZD/USD Forecast: Rebound from Yearly Low Stalls Ahead of 50-Day SMA

From dailyfx.com

NZD/USD appears to be stuck in a defined range as it gives back the advance following the Federal Reserve interest rate decision, but failure to push above the 50-Day SMA (0.6429) may lead to a test of the June 2020 low (0.6185) as the indicator continues to reflect a negative slope. In turn, the range bound price action may end up being temporary as NZD/USD struggles to extend the series of higher highs and lows from late last week, and the rebound from the yearly low (0.6196) may unravel as the exchange rate seems to be reversing course ahead of the moving average. chart NZD/USD trades in a narrow range after ... (full story)