MA 200 days is again capped

• Powell's dovish comments and the resulting USD liquidation pushed the NZD / USD pair above the falling channel threshold yesterday. The bull escape indicates that the path of least resistance is on the upper side. The hurdle of the 200-day moving average, however, slows the rally for the second time in two weeks.

4 hour chart

• The decreasing channel breakout seen in the graph indicates a rebound rebound from the November 11 trough of 0.6514.

Daily chart

• As seen above, the duo struggles to gather enough momentum to convincingly defeat the 200-day moving average resistance of 0.6866. A daily close above this level would only strengthen the technical configuration, already bullish, as shown by the decline of the channel on the graph of 4 hours, higher and lower peaks and the MA up 20 days.
• The bullish configuration would be disabled if the pair closes below the 20-day MA.

Trend: Bullish