As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
The closest is the 100 day average, which is 32.8 pips away.
As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern.
Out of the 40 instruments in the forex asset class, nzd/usd ended up ranking 7th for the day in terms of day-over-day price change.
As for the rationale, technical traders seem to be citing the appearance of a relative strength index technical pattern.