NZDUSD Up 5 Pips in Last Hour, Moves Down For the 2nd Consecutive Day; is Inching Close to 20 and 50 Day Averages

Hourly Update

(Last Updated October 14, 2020 2:19 GMT)

At the moment, NZDUSD’s rate is up 5 pips (0.08%) from the hour prior. This is the 2nd consecutive hour NZDUSD has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 1 pips (0.02%) since the previous day (opening today near 0.66449), marking the 2nd consecutive day a decline has happened. Out of the 40 instruments in the Forex asset class, NZDUSD ended up ranking 18th for the day in terms of price change. Here is a price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

Coming into today NZDUSD is now close to its 20, 50 and 100 day averages, located at 0.6626, 0.663 and 0.6567 respectively, and thus may be at a key juncture along those timeframes. 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 50 day average, which is 14.6 pips away. It should be noted, though, the 200 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. Or to simplify this another way, note that out of the past 30 days NZDUSD’s price has gone up 15 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!