NZDUSD Down 2 Pips Over Past Hour, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern.
NZDUSD
(Last Updated September 18, 2020)
Welcome to the news page for NZDUSD (NZDUSD). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
If we observe the 90 and 30 day timeframes, we see an uptrend in place for NZDUSD.
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.
In terms of correlations over the past week for NZDUSD, it has been most correlated with NZDCAD. Over the past 14 days, however, NZDJPY is the asset most correlated to NZDUSD. On the flip side, EURCAD has been the asset least correlated with NZDUSD — but if we observe the prior two weeks, the asset least correlated with NZDUSD has been TRYJPY. 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 time of this writing, NZDUSD’s rate is up 0.0091 (1.36%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. As for the trend on the weekly timeframe, we see the clearest trend 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 Up 11 Pips in Last Hour, Moves Up For the 2nd Straight Day; 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 Down 0 Pips On Hourly Chart, Came Into Today Up For the 2nd Day In A Row; Sentiment Strongly Favors Sellers
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
NZDUSD Down 2 Pips Over Past Hour, 4 Day Up Streak Snapped; in an Uptrend Over Past 90 Days
This is the 2nd consecutive hour nzdusd has seen its price head down.
NZDUSD Down 15 Pips in Last Hour, 4 Day Up Streak Broken; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone up 16 out of the past 30 days.
NZDUSD Down 8 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Entered Today Up For the 2nd Day In A Row
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.
NZD/USD Down 8 Pips On 4 Hour Chart, Eyes 50 Day Average; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone up 15 out of the past 30 days.
NZD/USD Up 26 Pips Over Past 4 Hours, 2 Day Down Streak Broken; is Inching Close to 50 Day Average
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.
NZD/USD Down 12 Pips On 4 Hour Chart, 2 Day Up Streak Ended; Eyes 50 Day Average
The closest is the 50 day average, which is 6.5 pips away.
NZD/USD Down 25 Pips in Last 4 Hours, Moves Up For the 2nd Straight Day; in a Downtrend Over Past 14 Days
Compared to its peers in the forex, nzd/usd gave its buyers a return that ranked 4th in terms of percentage change since the day prior.