NZDUSD: A lot of chop in the trading this week, but the sellers are still in control
In the video above, I take a look at the technicals driving the NZDUSD as we look toward the new trading week.
The sellers are more in control below a cluster of MA with a high at 0.5612. If the price cannot get above those MAs, the sellers are in full control
A move above that level, and there is still work to do to take back more control. However, it is gives the buyers some hope. Ultimately, it would take a move above the 38.2% of the move down from the November high at 0.5688 for the buyers to show they are serious about the upside and give some sellers some cause for pause.
