The NZDUSD is coiling as the clock ticks toward the 8 PM peace deadline, with price action tightening into a classic consolidation pattern. The pair remains capped below a downward-sloping trendline and the 100-hour moving average, and although buyers briefly pushed above both levels today, the move quickly failed—keeping sellers in control for now.
At the same time (and on the downside) a series of higher lows has formed an upward-sloping trendline, narrowing the range and increasing the odds of a breakout either higher or lower.
For buyers to take control, they need to break and stay above a key cluster between 0.5712 and 0.5726, which includes the 100-hour moving average, the descending trendline, and the 200-hour moving average
NZDUSD is coiling at the lows.Is the coil going to restart the downside or start a bounce?
