The NZDUSD declined sharply late last month but in October it has been a completely different story.
The currency pair has enjoyed a strong run higher coming off a low of 0.7500, to currently be trading right above the 0.8000 handle.
On the chart we note a steady progression higher, with the shorter-term EMAs crossing higher and diverging and the price action moving towards the 125-period EMA.
A break above the 125-period EMA will signal a shift in the broader momentum to the long side.
Traders looking to ride the momentum higher may consider buying above 0.8100, with stops set below the previous session’s lows, around 0.7900.