The NZD/USD pair found takers yesterday at 0.7188, snapping the two-day losing streak, but is struggling to take out the 10-day MA (moving average) hurdle in Asia. Having tested that level, how is the pair now trading? Read on as this 30 March NZDUSD Technical Forecast will reveal.
30 March, GKFX – As of writing, the spot is trading at 0.7227, having tested the 10-day MA of 0.7233 earlier today.
USD’s quarter-end rally seems to have run out of steam
The greenback was on the rise earlier this week, reportedly due to investors booking out of their shorts ahead of the quarter end. That said, the pick in the NZD/USD pair seen yesterday suggests the USD will likely begin the next quarter on the negative note.
As for today, the spot may see a little action, given the major markets are closed on account of Good Friday.
30 March NZDUSD Technical Forecast
A clear break above 0.7233 (10-day MA) would open up upside towards 0.7255 (21-day MA) and 0.7274 (March 28 high). On the other hand, a break below 0.7203 (March 23 low) could yield a pullback to 0.7184 (200-day MA) and 0.7176 (Feb. 8 low).
This article 30 March NZDUSD Technical Forecast was written by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.
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