(Last Updated October 19, 2020 10:19 GMT)
Currently, NZDUSD’s rate is up 8 pips (0.12%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NZDUSD has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 hour moving average has been crossed, so that price is now turning above it. 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)
The back and forth price flow continues for NZDUSD, which started today off at 0.66012, up 4 pips 0.06% from the previous day. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 13th in terms of percentage change since the previous day. Below is a price chart of NZDUSD.
NZDUSD Technical Analysis
The first thing we should note is that NZDUSD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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 20 day average, which is 5.4 pips away. It should be noted, though, the 50 day simple moving average turned upwards, which may be a bullish sign. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days NZDUSD’s price has gone down 6 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!