NZDUSD Down 3 Pips On Hourly Chart, 3 Day Down Streak Snapped; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated November 15, 2021 18:21 GMT)

At the time of this writing, NZDUSD’s rate is down -3 pips (-0.04%) from the hour prior. NZDUSD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. 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 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, which opened today priced near 0.70385, is up 19 pips 0.27% since yesterday, marking a reversal from the day prior — and the end of a 3 day negative run. Relative to other instruments in the Forex asset class, NZDUSD ranked 8th yesterday in terms of percentage price change. Let’s take a look at price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

Notably, NZDUSD crossed above its 100 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 100 day average, which is 11.7 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 and 90 day timeframes. Or to simplify this another way, note that out of the past 14 days NZDUSD’s price has gone up 7 them.