NZD/USD Down 1 Pips in Last Hour; 2 Day Down Streak Broken

Hourly Update

(Last Updated June 3, 2022 1:44 GMT)

At the time of this writing, NZDUSD’s rate is down -1 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved 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)

The choppiness in the recent daily price action of NZDUSD continues; to start today, it came in at a price of 0.65593, up 80 pips (1.23%) since the previous day. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 2nd for the day in terms of price change. Below is a price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

Notably, NZDUSD is now close to its 20, 50 and 100 day averages, located at 0.6405, 0.6609 and 0.6676 respectively, and thus may be at a key juncture along those timeframes. 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 90 day timeframe. Or to simplify this another way, note that out of the past 10 days NZDUSD’s price has gone up 7 them.