NZDUSD bullish technical and news sentiment alert

Gary Christie

TC Canada General Manager & North American Research Director

NZD/USD showing reversal signals in sentiment and price action.

Using the "TC Market Buzz" and "technical Insight" research tools, we have identified a bullish signal in the NZD/USD pair.

TC Market Buzz has identified above average news volume over the last 24 hours. The orientation of the news headlines is signaling a bullish sentiment score of 0.85 (-1 being negative and +1 being the most bullish) with an above average confidence index reading to back up the sentiment score.

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The NZD/USD has also confirmed an "Outside Bar" price pattern which tells us the selling pressure is starting to weaken. An Outside Bar (Bullish) develops during a strong downtrend, when the trading range completely encompasses the range of the prior bar. This signals an exhaustion of the prior downtrend and potentially a reversal.