Buyers and sellers ping-pong between 100 bar MAs in NZDUSD. Traders wait for the break.
Trader news forex
2024-09-17 11:21:37
1.70W
The last two trading days in the NZDUSD have developed a pattern. That pattern is to ping-pong between the 100-bar moving average on a 4-hour chart on the topside (currently at 0.
The last two trading days in the NZDUSD have developed a pattern. That pattern is to ping-pong between the 100-bar moving average on a 4-hour chart on the topside (currently at 0.61967), and the 100-hour moving average on the downside at 0.61565.
In between sits the 200-hour moving average at 0.61698.
Traders are leaning on support on the downside and resistance on the topside and waiting for the break with momentum.
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