NZDUSD Up 2 Pips On Hourly Chart, Moves Down For the 2nd Consecutive Day; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated February 19, 2021 0:24 GMT)

At the time of this writing, NZDUSD’s rate is up 2 pips (0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 200 hour moving average, resulting in them so that price is now turning above it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 2 pips (0.03%) since yesterday (opening today near 0.71893), marking the 2nd consecutive day it has gone down. Relative to other instruments in the Forex asset class, NZDUSD ranked 18th yesterday in terms of percentage price change. Let’s take a look at price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

Notably, NZDUSD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days NZDUSD’s price has gone up 16 them.