NZD/USD Up 33 Pips in Last 4 Hours, 3 Day Up Streak Broken; in a Downtrend Over Past 90 Days

NZD/USD 4 Hour Price Update

Updated March 26, 2020 05:13 AM GMT (01:13 AM EST)

The back and forth price flow continues for NZD/USD, which started the current 4 hour candle off at 0.5839, up 33 pips 0.57% from the last 4 hour candle. Compared to its peers in the Forex, NZD/USD gave its buyers a return that ranked 3rd 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, which opened today priced near 0.58, is down 30 pips 0.51% since yesterday, marking a reversal from the day prior — and the end of a 3 day positive run. Compared to its peers in the Forex, NZD/USD gave its buyers a return that ranked 25th in terms of percentage change since yesterday. Here is a price chart of NZD/USD.

NZD/USD Technical Analysis

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 218.1 pips away. 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. For additional context, note that price has gone down 16 out of the past 30 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDUSD, with 15 buy signals on our radar and 7 sell signals. This imputes a buy/sell ratio of 2.14, which is bullish. As for the rationale, technical traders seem to be citing the appearance of flag and relative strength index technical patterns. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

The recent rebound in NZD/USD may unravel as a bear flag formation takes shape, while the RSI continues to track the downward trend from earlier this year.