NZDUSD Up 0 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Price Base in Formation Over Past 30 Days
This move is a reversal from the hour prior, which saw price move down.
NZDUSD
(Last Updated February 24, 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:
Forex Calendar for NZDUSD
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| New Zealand Interest Rate Decision | 2021 | New Zealand Dollar | NZD | 2021-02-24 | 01:00 GMT | 0.25% | 0.25% |
| New Zealand RBNZ Press Conference | NA | New Zealand Dollar | NZD | 2021-02-24 | 02:00 GMT | ||
| United States New Home Sales MoM | Jan 2021 | US Dollar | USD | 2021-02-24 | 15:00 GMT | 2.1% | |
| United States New Home Sales | Jan 2021 | US Dollar | USD | 2021-02-24 | 15:00 GMT | 0.855M | |
| United States Fed Chair Powell Testimony | NA | US Dollar | USD | 2021-02-24 | 15:00 GMT |
The Trend
On NZDUSD, there is currently an uptrend on the 90, 30 and 14 day timeframes.
NZDUSD Moving Averages
Across several time periods between 20 and 200 days, the trend on NZDUSD has remained consistently bullish.
Below is a chart showing NZDUSD’s price with its moving averages.
Regarding NZDUSD’s correlations over the past 7 days, it has been most correlated with NZDCAD. Over the past 14 days, however, the asset showing the strongest correlation to NZDUSD is EURNZD. On the flip side, USDNOK has been the asset least correlated with NZDUSD — but over the past two weeks, the asset least correlated with NZDUSD has been USDZAR. The chart below illustrates NZDUSD against its least correlated assets.
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The View From the Weekly Timeframe
At the time of this writing, NZDUSD’s rate is up 46 pips (0.63%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as NZDUSD has now gone up 12 of the past 14 weeks. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. 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. NZDUSD’s weekly price action over the past 52 weeks can be seen via the chart below.
NZDUSD: The Monthly View
Monthly trend: strongest on the 120 month timeframe.
NZDUSD Down 3 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Price Base in Formation Over Past 30 Days
Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
NZDUSD Up 24 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Price Base in Formation Over Past 30 Days
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up.
NZDUSD Up 5 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; Price Base in Formation Over Past 30 Days
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
NZDUSD Up 4 Pips Over Past Hour, Came Into Today Up For the 2nd Straight Day; in an Uptrend Over Past 90 Days
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up.
NZDUSD Up 3 Pips in Last Hour, in an Uptrend Over Past 90 Days; Price Base in Formation Over Past 14 and 30 Days
Also of note is that on the 14 and 30 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
NZDUSD Up 24 Pips in Last Hour, 2 Day Up Streak Broken; Crosses 20 Day Moving Average
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
NZDUSD Down 6 Pips Over Past Hour, Breaks Above 20 Day Average; in an Uptrend Over Past 90 Days
Relative to other instruments in the forex asset class, nzdusd ranked 6th yesterday in terms of percentage price change.
NZDUSD Up 14 Pips Over Past Hour, Crosses 20 Day Moving Average; in an Uptrend Over Past 90 Days
Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
NZDUSD Up 13 Pips Over Past Hour, Entered Today Up For the 2nd Straight Day; Nears 20 Day Moving Average
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.