NZD/USD Down 1 Pips On Hourly Chart, Entered Today Down For the 4th Consecutive Day; Falls Again, Has Now Dropped 13 Out of Past 14 Days

Hourly Update

(Last Updated May 11, 2022 1:47 GMT)

Currently, NZDUSD’s rate is down -1 pips (-0.02%) 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 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NZDUSD. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 is down 35 pips (0.55%) since yesterday (opening today near 0.629), marking the 4th consecutive day a decrease has occurred. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 37th in terms of percentage change since yesterday. Here is a price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

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 285.9 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 13 out of the past 14 days.