NZDUSD is below the 20/100 hourly moving average and the trend line. bearish.
the NZDUSD
New Zealand dollar / US dollar
NZD/USD is a commonly offered currency pair that represents the New Zealand dollar or the Kiwi and the US dollar. The pair is known for dealing with a commodity currency, i.e. the New Zealand dollar, which helps attract risk appetite for forex traders. Like its Antipodean counterpart, the Australian dollar, NZD/USD is seen as a carry trade, in part because interest rate differentials favor the New Zealand dollar. The New Zealand dollar is the seventh most liquid pair in the world at the time of writing, and the US dollar is the most liquid in the world.
NZD/USD is a commonly offered currency pair that represents the New Zealand dollar or the Kiwi and the US dollar. The pair is known for dealing with a commodity currency, i.e. the New Zealand dollar, which helps attract risk appetite for forex traders. Like its Antipodean counterpart, the Australian dollar, NZD/USD is seen as a carry trade, in part because interest rate differentials favor the New Zealand dollar. The New Zealand dollar is the seventh most liquid pair in the world at the time of writing, and the US dollar is the most liquid in the world.
Read this term It has seen several short-lived up and down moves over the past few weeks. On the upside, the price occasionally surpassed the 100-day high moving average
moving average
A moving average is a statistical tool used to smooth out short-term fluctuations in data and reveal long-term trends. It is calculated by taking the average of a given number of data points over a specified period of time, and then plotting that average as a line on the graph. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA). In the financial markets, moving averages are often used to analyze stock prices, exchange rates, etc.
A moving average is a statistical tool used to smooth out short-term fluctuations in data and reveal long-term trends. It is calculated by taking the average of a given number of data points over a specified period of time, and then plotting that average as a line on the graph. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA). In the financial markets, moving averages are often used to analyze stock prices, exchange rates, etc.
Read this term (see above blue step line and red shaded areas) but eventually lost momentum and reversed sharply. The latest break higher occurred on Thursday, with higher price stalling against the upper trend line, prompting sellers to turn back.
On the downside, recent lows have found support at progressively higher levels (see green numbered circles). Friday’s decline and today’s Asian session low were both halted against the sloping upward trend line. However, during today’s London morning session, the price broke below this trend line, shifting the technical bias in favor of the sellers. The bottom side of the broken trend line is currently around 0.6197 (around 0.6200), and staying below this level in the short term is keeping the sellers firmly in control. A move above this level could trigger a corrective probe to the upside in the event of a failed breakout (risk of sellers closing out now).
The bearish bias in the short term is reinforced by the price dropping back below the 100 and 200 hourly moving averages, around 0.6218. Although the price has been fluctuating around these moving averages since March 15th, with the price now below both the moving averages and the upward sloping trend line, the sellers have the upper hand and remain in control. Downside targets include last week’s swing low at 0.6166 and the 200-day moving average at 0.6158.
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