NZD/USD Down 3 Pips Over Past 4 Hours, Makes Big Move Relative to Two Week Trend; in an Uptrend Over Past 90 Days

NZD/USD 4 Hour Price Update

Updated July 01, 2020 01:07 AM GMT (09:07 PM EST)

The back and forth price flow continues for NZD/USD, which started the current 4 hour candle off at 0.645, down 3 pips 0.05% from the last 4 hour candle. Compared to its peers in the Forex, NZD/USD gave its buyers a return that ranked 35th in terms of percentage change since the last 4 hour candle.

NZD/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZD/USD is up 21 pips (0.33%) since the day prior (opening today near 0.6451), marking the 2nd day in a row an increase has occurred. Out of the 40 instruments in the Forex asset class, NZD/USD ended up ranking 11th for the day in terms of price change. Let’s take a look at price chart of NZD/USD.

NZD/USD Technical Analysis

First things first: NZD/USD crossed above its 20 day moving average yesterday. 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 3.8 pips away. Volatility for NZD/USD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days NZD/USD’s price has gone up 19 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on NZDUSD, with 12 buy signals on our radar and 17 sell signals. This imputes a buy/sell ratio of 0.71, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Previous short on this pair has been stopped out and market seems to have decided the current direction of the dollar, with that being said we have enough confluence with volume, RSI and PA to enter in anticipation of triangle break up in continuation of previous bullish run