NZD/USD Up 3 Pips On 4 Hour Chart, Entered Today Up For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart

NZD/USD 4 Hour Price Update

Updated July 02, 2020 01:13 AM GMT (09:13 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 0.648, up 3 pips (0.05%) since the previous 4 hours. Compared to its peers in the Forex, NZD/USD gave its buyers a return that ranked 6th in terms of percentage change since the previous 4 hours.

NZD/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZD/USD is up 8 pips (0.12%) since the previous day (opening today near 0.64832), marking the 3rd day in a row an increase has occurred. Compared to its peers in the Forex, NZD/USD gave its buyers a return that ranked 6th in terms of percentage change since the previous day. Let’s take a look at price chart of NZD/USD.

NZD/USD Technical Analysis

Coming into today the current price of NZD/USD is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 35.1 pips away. Volatility for NZD/USD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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 10 days NZD/USD’s price has gone up 7 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

We’re seeing some traders come out with interesting conviction on NZDUSD, with 4 buy signals on our radar and 12 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 channel, fibonacci and triple top technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Price is in a corrective channel overall and is try to touch the trend line for the third time before falling and that is around the 71.0 Fib zone.