(Last Updated April 15, 2021)
Welcome to the news page for NZDUSD (NZDUSD). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| United States Philadelphia Fed Manufacturing Index | Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 42 | 50.2 |
| United States NY Empire State Manufacturing Index | Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 19.5 | 26.3 |
| United States Retail Sales MoM | Mar 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 5.9% | 9.8% |
| United States Retail Sales Ex Autos MoM | Mar 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 5% | 8.4% |
| United States Continuing Jobless Claims | 03/Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 3700K | 3731K |
As for trends on NZDUSD, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 30 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.
The moving averages on NZDUSD summarize its price action in an interesting way. The 100 and 200 day averages are pointing upwards, suggesting a bullish trend, in contrast to the downward-facing 20 and 50 day averages that imply a bearish trend. Ultimately, this suggests a bearish trend on shorter timeframes, compared to a bullish trend when observing more than 3 months of data.
The chart below illustrates.
As for assets in the Forex asset class NZDUSD has been correlated to over the past week, it has been most correlated with AUDUSD. AUDUSD is the asset with which NZDUSD has been most correlated with over the past two weeks as well, so this may be a recurring pattern. Alternatively, ZARJPY has been the asset least correlated with NZDUSD — but over the past two weeks, the asset least correlated with NZDUSD has been NZDCHF. 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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Currently, NZDUSD’s rate is up 109 pips (1.56%) from the week prior. Moreover, note that this is the 3rd straight week NZDUSD has seen its price head up. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 5, 10 and 20 week timeframes. Looking further out, the moving averages on the weekly 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. The weekly chart below shows NZDUSD’s price action over the past year.
Monthly trend: strongest on the 120 month timeframe.
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
Price action traders may also wish to note that we see a doji candlestick pattern on nzdusd.
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
Price action traders may also wish to note that we see a doji candlestick pattern on nzdusd.
It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign.
Relative to other instruments in the forex asset class, nzdusd ranked 36th yesterday in terms of percentage price change.
Price action traders may also wish to note that we see a pin bar candlestick pattern on nzdusd.
Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.