NZD/USD Up 2 Pips On 4 Hour Chart; in an Uptrend Over Past 14 Days

NZD/USD 4 Hour Price Update

Updated July 08, 2020 09:14 AM GMT (05:14 AM EST)

The choppiness in the recent four-hour candle price action of NZD/USD continues; to start the current 4 hour candle, it came in at a price of 0.6546, up 2 pips (0.03%) since the last 4 hour candle. Compared to its peers in the Forex, NZD/USD gave its buyers a return that ranked 9th in terms of percentage change since the last 4 hour candle.

NZD/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of NZD/USD continues; to start today, it came in at a price of 0.6555, up 9 pips (0.14%) since the previous day. Out of the 40 instruments in the Forex asset class, NZD/USD ended up ranking 4th for the day in terms of price change. Let’s take a look at price chart of NZD/USD.

NZD/USD Technical Analysis

The first thing we should note is that NZD/USD is now close to its 20 day averages, located at 0.6468 respectively, and thus may be at a key juncture along those timeframes. 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 20 day average, which is 87.1 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 7 out of the past 10 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on NZDUSD, with 8 buy signals on our radar and 19 sell signals. This imputes a buy/sell ratio of 0.42, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Form a Gartley Pattern, 2 times rejected from resistance