NZD/USD Down 2 Pips in Last 4 Hours, Came Into Today Up For the 4th Day In A Row; Pin Bar Pattern Appearing on Chart

NZD/USD 4 Hour Price Update

Updated July 03, 2020 01:16 AM GMT (09:16 PM 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 0.6508, down 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 27th 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 1 pips (0.02%) since yesterday (opening today near 0.6511), marking the 4th day in a row an increase has occurred. Compared to its peers in the Forex, NZD/USD gave its buyers a return that ranked 26th in terms of percentage change since yesterday. Below is a price chart of NZD/USD.

NZD/USD Technical Analysis

Notably, NZD/USD is now close to its 20 day averages, located at 0.6448 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 62.8 pips away. 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 14 days NZD/USD’s price has gone up 9 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

Of note is that traders in aggregate have opinions on NZDUSD, with 12 buy signals on our radar and 19 sell signals. This imputes a buy/sell ratio of 0.63, 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.

BUY ON RE-TEST BROKE AREA 0.6490CUTLOSS 0.6458TAKE PROFIT 0.6580Disclaimer ONFollow to my channel https://t.me/jmrfx Youtube