NZDUSD Down 5 Pips On Hourly Chart, Tops All Forex; Crosses 20 Day Moving Average

Hourly Update

(Last Updated April 14, 2021 3:22 GMT)

Currently, NZDUSD’s rate is down -5 pips (-0.07%) from the hour prior. This is the 2nd consecutive hour NZDUSD has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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 up 28 pips (0.4%) since the day prior (opening today near 0.70616), marking the 2nd consecutive day an increase has occurred. NZDUSD outperformed all 39 assets in the Forex asset class the day prior. Congrats to its holders! Let’s take a look at price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

First things first: NZDUSD crossed above its 20 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 20 day average, which is 14.1 pips away. Volatility for NZDUSD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. For additional context, note that price has gone down 17 out of the past 30 days.