NZD/USD Down 1 Pips Over Past Hour, Entered Today Down For the 2nd Straight Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated June 2, 2022 1:44 GMT)

At the time of this writing, NZDUSD’s rate is down -1 pips (-0.02%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDUSD has now gone down 8 of the past 10 hours. Regarding the trend, note that the strongest trend exists on the 50 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 is down 40 pips (0.62%) since yesterday (opening today near 0.64793), marking the 2nd straight day a decrease has occurred. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 32nd for the day in terms of price change. Below is a price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

The first thing we should note is that NZDUSD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone up 10 out of the past 14 days.