Compared to its peers in the forex, nzdusd gave its buyers a return that ranked 11th in terms of percentage change since the day prior.
From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes.
This imputes a buy/sell ratio of 0.56, which is bearish.
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down.
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.
Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed up.
The closest is the 20 day average, which is 40.9 pips away.
This is a reversal of the price action on the previous hour, in which price moved up.
Price action traders may also wish to note that we see a doji candlestick pattern on gbpchf.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.