NZDUSD breaks above 100 hour MA and 38.2% with not much resistance

0.7355 area is now risk for buyers.

The dollar selling has the NZDUSD pushing above a couple of technical levels. The move took the price above the 100 hour MA and the 38.2% retracement at the 0.7355 area. Both those technical tools came in at the same area and that usually gives traders a cause for pause.

Today, there was not much pause.

The move above is more bullish. Buyers are in control. Longs will be on the lookout for a failure. Yesterday the price spiked above the MA line on the FOMC minutes, but quickly faded. However with the move today, sellers now have to be more cautious.

The 50% is the next target at 0.7371.

The USDJPY is moving below its 50% retracement at 106.723 keeping it's bearish USD run going.

The USDCAD, which had much weaker than expected retail sales, has reversed the gains and traded to new session lows.