NZD/USD Down 40 Pips in Last 4 Hours; Entered Today Down For the 2nd Day In A Row

NZD/USD 4 Hour Price Update

Updated March 31, 2020 01:10 PM GMT (09:10 AM EST)

NZD/USD is down 40 pips (0.67%) since the previous 4 hours (opening the current 4 hour candle near 0.5948), marking the 2nd candle in a row a decrease has occurred. Out of the 40 instruments in the Forex asset class, NZD/USD ended up ranking 38th for the four-hour candle in terms of price change.

NZD/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZD/USD is down 7 pips (0.12%) since yesterday (opening today near 0.6002), marking the 2nd day in a row a decline has happened. Out of the 40 instruments in the Forex asset class, NZD/USD ended up ranking 30th for the day in terms of price change. Here is a price chart of NZD/USD.

NZD/USD Technical Analysis

Coming into today NZD/USD is now close to its 20 day averages, located at 0.5966 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 36.1 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down 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

Of note is that traders in aggregate have opinions on NZDUSD, with 8 buy signals on our radar and 17 sell signals. This imputes a buy/sell ratio of 0.47, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a flag technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

This also means that not every idea is a valid trade….- Our analysis are trading ideas not trading signals for you….- Instead of trying to take this trade and win small profits, focus on the analysis and how to create your own trading style.