(Last Updated September 18, 2020 23:17 GMT)
At the time of this writing, NZDUSD’s rate is down -3 pips (-0.04%) from the hour prior. This is the 2nd straight hour NZDUSD has seen its price head down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Of note is that the 20 hour changed directions on NZDUSD; it is now pointing down. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
NZDUSD End of Day Recap
Updated 00:30 GMT (04:30 EST)
NZDUSD is up 23 pips (0.35%) since the previous day (opening today near 0.67542), marking the 5th consecutive day it has gone up. Relative to other instruments in the Forex asset class, NZDUSD ranked 5th the previous day in terms of percentage price change. Below is a price chart of NZDUSD.
NZDUSD Technical Analysis
Coming into today NZDUSD is now close to its 20 and 50 day averages, located at 0.6674 and 0.663 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 14 days.
The View From Around the Web
Of note is that traders in aggregate have opinions on NZDUSD, with 10 buy signals on our radar and 20 sell signals. This imputes a buy/sell ratio of 0.5, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a double top technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Supply zone H4MACD divergence M15Test target TP