NZD/USD Down 1 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; 2 Day Down Streak Snapped

Hourly Update

(Last Updated December 16, 2021 1:44 GMT)

At the time of this writing, NZDUSD’s rate is down -1 pips (-0.02%) from the hour prior. The hourly chart shows that NZDUSD has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NZDUSD. Given that we see an uptrend on the 10 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)

The choppiness in the recent daily price action of NZDUSD continues; to start today, it came in at a price of 0.67812, up 42 pips (0.62%) since yesterday. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 12th in terms of percentage change since yesterday. Here is a price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

The first thing we should note is that the current price of NZDUSD is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 18 out of the past 30 days.