(Last Updated September 17, 2021 1:23 GMT)
Currently, NZDUSD’s rate is down -4 pips (-0.05%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
NZDUSD End of Day Recap
Updated 00:30 GMT (04:30 EST)
The back and forth price flow continues for NZDUSD, which started today off at 0.71276, up 33 pips 0.46% from the day prior. Relative to other instruments in the Forex asset class, NZDUSD ranked 3rd the day prior in terms of percentage price change. The price chart of NZDUSD below illustrates.
NZDUSD Technical Analysis
First things first: NZDUSD crossed above its 200 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 7.8 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 14 days NZDUSD’s price has gone up 10 them.