NZD/USD Makes Big Move Relative to Two Week Trend, Down 179 Pips; in a Downtrend Over Past 90 Days

NZD/USD Price Recap

The back and forth price flow continues for NZD/USD, which starts today off at 0.60895 US dollars, down 179 pips 2.86% from the previous day. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 111.41% from the day prior, and up 85.71% from the same day the week before. Relative to other instruments in the Forex asset class, NZD/USD ranked 37th yesterday in terms of percentage price change. The price chart of NZD/USD below illustrates.

NZD/USD Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days NZD/USD’s price has gone down 18 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDUSD, with 3 buy signals on our radar and 9 sell signals. This imputes a buy/sell ratio of 0.33, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Follow through with previous Ideas for general overview.Trend-line not included on chart cuts between 0.63397 and 0.63666Check comments section for future updates on idea.Like this idea?Like, Share, Follow, and Support this channel for yet better content.