NZDUSD falls to MA support. Do buyers stick a toe in the water here?

<p>The NZDUSD has fallen to moving average support after the stronger-than-expected US CPI data. The NZDUSD and the AUDUSD are battling each other for the biggest mover vs the greenback with a move of about 1.2%.</p><p>That move (to the downside) has now seen the pair approach the 200 bar MA on the 4-hour chart at 0.5940. Sellers now have a choice. Do they stretch for a break with the swing area between 0.5879 to 0.5894 as the next target? Or is it time to call off the sellers and look for a rebound with the 100 bar MA on the 4-hour chart at 0.59613 as the next target that if rebroken to the upside, would increase the bullish bias?</p><p>Key level for buyers and sellers. </p>

This article was written by Greg Michalowski at www.forexlive.com.