NZD/USD: Jumps 0.4%, golden cross on the daily chart
NZD/USD pair has charted a golden crossover on the daily chart. The golden cross refers to the bullish cross of the 50- and 200-day simple moving averages (SMAs) is an indicator of a long-term bull market. However, SMA studies are based on past data. As such, crossovers are not reliable indicators.