NZD/USD Price Analysis: Bulls Push Back, Targeting 20-Day SMA Recovery
Monday, 16 September 2024, 14:45
Recent Market Moves
On Monday, the NZD/USD pair rose by 0.70% to 0.6200, driven by bullish momentum.
Trading Range Insights
- The pair has been experiencing choppy trading between 0.6120 and 0.6200 in recent sessions.
- This range signifies a period of consolidation before any breakout.
The recovery towards the 20-day SMA indicates that bulls are actively attempting to regain control of the market dynamics.
Future Implications
Market participants are watching closely for potential breakouts that could signal a new bullish trend.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.