The pair waits for the next shove
The NZDUSD is trading between its 100 and 200 hour moving averages. The 100 hour moving averages is above at 0.70516. The 200 hour moving average is below at 0.70272 (24 pips define the range). In between each sits the 200 day moving average at 0.70430. The current price is trading just below that 200 day moving average.
With the price trading between its two hourly moving averages – and above and below its 200 day moving average – the buyers and sellers are battling it out. It will take a move above the 100 or move below the 200 hour moving averages to solicit momentum in the direction of the break.