The NZDUSD traded to a brand new excessive in early Asian buying and selling. The excessive worth prolonged as much as a swing space between 0.62186 and 0.62235. The excessive worth prolonged to 0.62215 and began rotation again to the draw back.
Within the present 4-hour bar, the worth has dipped again beneath the 61.8% retracement of the transfer down from the July 2023 excessive. That degree is available in at 0.61674 and will likely be a barometer within the quick time period for this foreign money pair. Commerce extra beneath it and the subsequent goal space is available in at a swing space at 0.6104 – 0.6117. Under that the 200-day transferring common of fifty% of the 2023 buying and selling vary is available in close to 0.6090.
Conversely, if the 61.8% retracement can maintain assist, a rotation again towards the swing space at 0.6220 will be anticipated.
