NZDUSD buyers are making a play. Trading above the 50% retracement in today’s trading. Still work to do.

NZDUSD rose today. The bullish rush occurred during the Asian session. In the process, the price rose to test an upper channel trendline, only to find willing sellers.

Since then, the price has declined and traded above and below 50% of the April trading range. This level stands at 0.59668. The price low stopped near swing zone support at 0.59569.

The price has fluctuated since then and trades above and below 50%. If price can stay above this midpoint, buyers can feel more confident with the upper trendline, the next target.

Conversely, if price begins to trade further below 50% and falls below the low at 0.59569, buyers could turn to seller sites on the lower 100 hourly moving average and the ascending trendline of the lower channel.