Late April / early May action in NZDUSD has been absolutely textbook in terms of ‘original slope’ trading. Here’s how we followed it in real-time.
Author
Jamie Saettele, CMT
Scandinavian Capital Markets
Jamie Saettele is Senior Technical Strategist at Scandinavian Capital Markets, a premier broker offering services to institutional clients, fund managers and professional traders around the world.
Ripple extends lock-step trading for the third straight day on Friday, as support at $1.40 comes under pressure. The remittance token has remained largely in defense mode since last week’s 72% rally from $1.00 to highs around $1.70.
Bitcoin is back below $80,000 at the time of writing on Friday, after a second attempt at breaking resistance between $81,000 and $82,000. Meanwhile, Ethereum and Ripple mirror Bitcoin’s cooling trend, with ETH sliding to $2,500 and XRP falling toward $1.40 support.
Bitcoin rises over 2% this week, holding near $80,000 after testing the 50-week SMA at $81,114. US-listed spot Bitcoin ETFs are on track for a second straight week of billion-dollar inflows, with $1.13 billion recorded through Thursday.
Hyperliquid (HYPE) is down 2% on Friday after reaching a record high of 86.75 the previous day. Nasdaq-listed Hyperliquid Strategies Inc (PURR) raised almost $650 million in an equity deal to increase its HYPE holding to 29.3 million tokens.
![How to trade early May action in NZD/USD [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/NZDUSD/ten-new-zealand-dollar-with-coins-9083264.jpg)
