NZDUSD is coiling at the lows.Is the coil going to restart the downside or start a bounce?

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?

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Payment services for HUBFX are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199) and The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorized in 39 states to transmit money (MSB Registration Number: 31000160311064). Registered Office: 104 5th Avenue, 20th Floor, New York , NY 10011 and CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 – 298, Mindspace Nieuwezijds Office 001 Amsterdam. CurrencyCloud B.V. is authorised by the DNB under the Wet op het financieel toezicht to carry out the business of a electronic-money institution (Relation Number: R142701)

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