NZD/USD Up 1 Pips Over Past Hour, in an Uptrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart
Volatility for nzdusd has been contracting over the past two weeks relative to volatility over the past month.
NZDUSD
(Last Updated November 27, 2020)
Hello! This is the news page for NZDUSD. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
On NZDUSD, there is currently an uptrend on the 90, 30 and 14 day timeframes.
NZDUSD Moving Averages
NZDUSD’s moving averages suggest the trend on a number of time horizons is bullish.
Below is a chart showing NZDUSD’s price with its moving averages.
As for assets in the Forex asset class NZDUSD has been correlated to over the past week, it has been most correlated with EURNOK. Over the past 14 days, however, the asset showing the strongest correlation to NZDUSD is EURNZD. Alternatively, the asset least correlated with NZDUSD over the past week has been USDCNH, but if we observe the prior two weeks, CADJPY has been the asset least correlated with NZDUSD. See the chart below to observe the recent price action in NZDUSD versus those of assets it hasn’t been well correlated with.
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The View From the Weekly Timeframe
At the moment, NZDUSD’s rate is up 0.0073 (1.05%) from the week prior. NZDUSD has seen its price go up 4 out of the past 5 weeks, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. The weekly chart below shows NZDUSD’s price action over the past year.
NZDUSD: The Monthly View
Strongest trend on the 120 month timeframe.
NZD/USD Down 1 Pips in Last Hour, Came Into Today Up For the 2nd Day In A Row; in an Uptrend Over Past 30 Days
It’s been a feast for bears operating on an hourly timeframe, as nzdusd has now gone down 4 of the past 5 hours.
NZD/USD Up 4 Pips Over Past Hour; in an Uptrend Over Past 30 Days
Relative to other instruments in the forex asset class, nzdusd ranked 8th the previous day in terms of percentage price change.
NZD/USD Up 11 Pips Over Past Hour, in an Uptrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart
As for the rationale, technical traders seem to be citing the appearance of a wedge technical pattern.
NZDUSD Up 10 Pips On Hourly Chart, in an Uptrend Over Past 30 Days; Social Sentiment Biased Towards Selling
Price action traders may also wish to note that we see a doji candlestick pattern on nzdusd.
NZDUSD Up 12 Pips On Hourly Chart, in an Uptrend Over Past 14 Days; Social Sentiment Biased Towards Selling
Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
NZDUSD Up 5 Pips in Last Hour, in an Uptrend Over Past 30 Days; Sentiment Strongly Favors Sellers
Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
NZDUSD Down 14 Pips Over Past Hour, Tops All Forex; in an Uptrend Over Past 30 Days
Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
NZDUSD Down 8 Pips On Hourly Chart, 2 Day Up Streak Broken; in an Uptrend Over Past 14 Days
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.
NZDUSD Up 3 Pips On Hourly Chart, Came Into Today Up For the 2nd Consecutive Day; in an Uptrend Over Past 14 Days
This is the 2nd consecutive hour nzdusd has seen its price head up.