NZDUSD buyers are currently positioned against higher technical levels. The 100-hour moving average supported the price during today’s trading.
Last week, NZDUSD rebounded after finding support at the 200-hour moving average and rose above a key swing area (0.5683–0.5694). After breaking above the 100-hour moving average (near 0.5715), the pair surged to a weekly high of 0.57716.
Following this high, price action has been inconsistent, moving up and down. Today’s price action showed a high near Friday’s level, while the low held at the 100-hour moving average, indicating modest buyer strength.
Key technical levels include upside targets at 0.57492 and 0.5771, with downside support at the 100-hour moving average. Maintaining above the 100-hour MA suggests a bullish trend, while a break below may lead to a test of the 200-hour MA for further direction. Buyers remain in control for the time being.
The current setup shows that buyers are holding ground, with price staying above the 100-hour moving average, which has played an important role in recent sessions. While volatility has led to swings in both directions, market participants with long positions have managed to stop sellers from gaining too much control.
The move higher last week started with a bounce off the 200-hour moving average, pushing past a previous resistance zone between 0.5683 and 0.5694. Breaking above 0.5715, a level that previously acted as resistance, triggered further buying momentum, lifting price to 0.57716. However, since that peak, there has been less conviction, as price has fluctuated within a tighter range.
Today’s movement has adhered to this pattern. Buyers pushed price close to last week’s high, but there wasn’t enough strength to move decisively beyond it. At the same time, sell-offs have been met with buying interest at the 100-hour moving average, which remains a critical point for market structure. As long as price stays above this level, buyers hold short-term control.
If price rises, resistance exists just below 0.5750, followed by last week’s high at 0.5771. Moving higher than that would reinforce buyer confidence and could encourage more participants to follow the trend. On the other hand, if price fails to stay above the 100-hour moving average, momentum could quickly shift. A drop below would almost certainly bring the 200-hour moving average back into focus, where buyers previously stepped in.
For now, we see buyers maintaining positions, but recent price action suggests that upside movement is meeting resistance. Whether the current range holds or breaks will depend on how market participants react to these well-defined levels.
