NZD/USD Down 0 Pips in Last Hour, Came Into Today Down For the 2nd Consecutive Day; Crosses 20 Day Moving Average

Hourly Update

(Last Updated January 7, 2022 1:42 GMT)

Currently, NZDUSD’s rate is down 0 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend 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)

NZDUSD is down 55 pips (0.8%) since the day prior (opening today near 0.67404), marking the 2nd consecutive day a decrease has occurred. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 32nd for the day in terms of price change. Let’s take a look at price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NZDUSD crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 10 days NZDUSD’s price has gone down 8 them.