NZD/USD Down 13 Pips Over Past Hour, Entered Today Down For the 2nd Day In A Row; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated June 23, 2022 1:43 GMT)

At the moment, NZDUSD’s rate is down -13 pips (-0.21%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 57 pips (0.91%) since the previous day (opening today near 0.62717), marking the 2nd day in a row it has gone down. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 35th for the day in terms of price change. The price chart of NZDUSD below illustrates.

NZDUSD

NZDUSD Technical Analysis

Coming into today 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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 15 out of the past 30 days.