(Last Updated April 22, 2022 1:48 GMT)
At the time of this writing, NZDUSD’s rate is down -12 pips (-0.18%) 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. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDUSD. Given that we see downtrend on the 20 and 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)
NZDUSD entered today at 0.67327, down 51 pips (0.75%) from the day prior. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 36th for the day in terms of price change. Let’s take a look at price chart of NZDUSD.
NZDUSD Technical Analysis
Moving average crossovers are always interesting, so let’s start there: NZDUSD crossed below its 100 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 100 day average, which is 47.5 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 10 out of the past 14 days.