100 hour MA broken

The NZDUSD has moved below the 100 hour MA at 0.70214 after holding the level late Friday and again on a number of hourly bars today. Support broken, look for the next target. That comes in at the 200 hour MA at 0.7008. Why is that important?

Friday, the MA line was broken in the early Asian session, move back above and traders used the MA as support in the NY session before surging higher.

So now, we head toward that support level. Like the 100 hour MA, traders looking to buy a lower dip, can lean against that level with stops below. It is a low risk trade if a buyer. Stay above and we go back to test the 100 hour MA. Move below and the pair looks more negative technicallly.