NZD/USD rebound runs into 10DMA hurdle

• 10-day MA is capping the upside in the NZD/USD pair.
• USD's quarter-end rally seems to have run out of steam.

The NZD/USD pair found takers yesterday at 0.7188, snapping the two-day losing streak, but is struggling to take out the 10-day MA (moving average) hurdle in Asia.

As of writing, the spot is trading at 0.7227, having tested the 10-day MA of 0.7233 earlier today.

The greenback was on the rise earlier this week, reportedly due to investors booking out of their shorts ahead of the quarter end. That said, the pick in the NZD/USD pair seen yesterday suggests the USD  will likely begin the next quarter on the negative note.

As for today, the spot may see a little action, given the major markets are closed on account of Good Friday.

NZD/USD Technical Levels

A clear break above 0.7233 (10-day MA) would open up upside towards 0.7255 (21-day MA) and 0.7274 (March 28 high).   On the other hand, a break below 0.7203 (March 23 low) could yield a pullback to 0.7184 (200-day MA) and 0.7176 (Feb. 8 low).