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NZDUSD trades below converged 100/200 hour MAs

The NZDUSD is trading below its 100/200 hour moving averages which are near converged at 0.6054 (blue and green lines in the chart above). The move below tilts the bias to the downside. The low from yesterday came in at 0.60402. Yesterday the pair stalled at the 100 hour MA and rotated higher, helped by the weaker ISM non-manufacturing data which weakened the USD. The pair moved higher earlier in sympathy perhaps with the rise in the AUDUSD after the 25 basis point hike by the RBA. The price of... Read More

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Posted: Jun 6 2023, 14:18

Author Name: forexlive

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