NZD/USD Up 1 Pips Over Past Hour; Came Into Today Up For the 8th Straight Day
Price action traders may also wish to note that we see a pin bar candlestick pattern on nzdusd.
NZDUSD
(Last Updated November 26, 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
If we observe the 90, 30 and 14 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 demonstrated the strongest correlation with EURNOK. If we zoom out to a two week basis, though, EURNZD is the asset most correlated to NZDUSD. Alternatively, the asset least correlated with NZDUSD over the past week has been USDCHF, but if we observe the prior two weeks, the asset least correlated with NZDUSD has been CADJPY. The chart below illustrates NZDUSD against its least correlated assets.
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The View From the Weekly Timeframe
Currently, NZDUSD’s rate is up 0.0076 (1.1%) 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. As for the trend on the weekly timeframe, we see the clearest trend on the 10 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 60 month timeframe.
NZDUSD Down 4 Pips in Last Hour, Moves Up For the 8th Straight Day; in an Uptrend Over Past 14 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.
NZDUSD Up 1 Pips On Hourly Chart, Came Into Today Up For the 7th Straight Day; in an Uptrend Over Past 14 Days
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
NZDUSD Up 1 Pips Over Past Hour; Moves Up For the 6th Straight Day
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
NZDUSD Down 2 Pips in Last Hour; Came Into Today Up For the 5th Straight Day
Relative to other instruments in the forex asset class, nzdusd ranked 12th the day prior in terms of percentage price change.
NZDUSD Up 4 Pips Over Past Hour, Moves Up For the 4th Day In A Row; Social Sentiment Biased Towards Selling
This is the 2nd consecutive hour nzdusd has seen its price head up.
NZDUSD Up 1 Pips On Hourly Chart, Makes Big Move Relative to Past Month; Came Into Today Up For the 3rd Straight Day
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 51 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Moves Up For the 2nd Consecutive Day
Relative to other instruments in the forex asset class, nzdusd ranked 10th the day prior in terms of percentage price change.
NZDUSD Down 0 Pips On Hourly Chart, 3 Day Down Streak Ended; Eyes 20, 50 and 100 Day Averages
The closest is the 20 day average, which is 1.7 pips away.
NZDUSD Down 6 Pips Over Past Hour, Entered Today Down For the 3rd Day In A Row; Eyes 20 and 100 Day Averages
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up.