The NZDUSD traded to a new excessive in early Asian buying and selling. The excessive worth prolonged up to a swing space between 0.62186 and 0.62235. The excessive worth prolonged to 0.62215 and began rotation again to the draw back.
In the present 4-hour bar, the value has dipped again under the 61.8% retracement of the transfer down from the July 2023 excessive. That stage is available in at 0.61674 and can be a barometer within the brief time period for this foreign money pair. Trade extra under it and the following goal space is available in at a swing space at 0.6104 – 0.6117. Below that the 200-day transferring common of 50% 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 may be anticipated.
The post NZDUSD soars to new excessive, but is backing off. Traders watching 61.8% retracement. appeared first on FOREX IN WORLD.
