(Last Updated May 13, 2022 1:43 GMT)
At the time of this writing, NZDUSD’s rate is up 8 pips (0.13%) from the hour prior. This is the 2nd straight hour NZDUSD has seen its price head up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDUSD. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
NZDUSD End of Day Recap
Updated 00:30 GMT (04:30 EST)
NZDUSD is down 54 pips (0.86%) since the previous day (opening today near 0.62357), marking the 6th consecutive day it has gone down. Relative to other instruments in the Forex asset class, NZDUSD ranked 26th the previous day in terms of percentage price change. Let’s take a look at price chart of NZDUSD.
NZDUSD 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 287.1 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days NZDUSD’s price has gone down 9 them.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for NZDUSD; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.
The New Zealand Dollar may struggle to recover against the USD after PMI data showed that New Zealand's manufacturing sector cooled in April. APAC traders are on the watch for Chinese credit data.