NZD/USD is facing pullback risks after multiple failures at the 100-day MA hurdle. A close above the key average will likely invite stronger buying pressures. The 100-day moving average is the level to beat for the NZD/USD bulls. The pair has failed four times in the last 22 days to hold on to gains above the 100-day MA. Notably, the rejection at the MA hurdle at 0.6462 on Nov. 4 was followed by a drop to 0.6322 on Nov. 8. The bounce from Nov. 8 lows has run out of steam at the 100-day MA in the last four days. A close higher will likely embolden the bulls, yielding a quick move higher to 0.6466 (Nov. 4 high) and 0.65 (psychological hurdle). That said, markets usually test dip demand following multiple rejections at key levels. So, with the 100-day MA proving a tough nut to crack, the pair is more likely to revisit support at 0.6380. The Kiwi is already feeling the pull of gravity. NZD/USD is currently trading at 0.6407, representing a 0.16% loss on the day, having faced rejection near the 100-day MA hurdle at 0.6423 during the overnight trade. Daily chart Trend: Pullback likely Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Can Ethereum hit 3,000 transactions per second? Vitalik Buterin thinks so FX Street 3 years NZD/USD is facing pullback risks after multiple failures at the 100-day MA hurdle. A close above the key average will likely invite stronger buying pressures. The 100-day moving average is the level to beat for the NZD/USD bulls. The pair has failed four times in the last 22 days to hold on to gains above the 100-day MA. Notably, the rejection at the MA hurdle at 0.6462 on Nov. 4 was followed by a drop to 0.6322 on Nov. 8. The bounce from Nov. 8 lows has run out of steam at the 100-day MA in… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
