NZDUSD trade near lows but remains above a key cluster of support

<p>The NZDUSD is trading to new session low, and in the process is retesting its 200-day moving average at 0.60893. That is the high of a cluster of support including a swing area between 0.60788 and 0.60856, and the 50% midpoint of the move up from the October low. That level comes in at 0.60716. </p><p>If the price is able to get below this cluster of support, it would open the door for further downside with the 100-day moving average at 0.60418 the next major target.</p>

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