NZD/USD Down 11 Pips Over Past Hour, Entered Today Up For the 3rd Consecutive Day; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated January 14, 2022 1:45 GMT)

Currently, NZDUSD’s rate is down -11 pips (-0.16%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDUSD has now gone down 5 of the past 5 hours. 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 an uptrend 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 up 23 pips (0.34%) since the day prior (opening today near 0.68714), marking the 3rd consecutive day an increase has occurred. Relative to other instruments in the Forex asset class, NZDUSD ranked 6th the day prior in terms of percentage price change. The price chart of NZDUSD below illustrates.

NZDUSD

NZDUSD Technical Analysis

Notably, NZDUSD crossed above its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 30 days NZDUSD’s price has gone up 15 them.