NZD/USD Down 18 Pips in Last Hour, Moves Down For the 3rd Day In A Row; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated June 13, 2022 1:41 GMT)

Currently, NZDUSD’s rate is down -18 pips (-0.29%) from the hour prior. NZDUSD has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 is down 29 pips (0.45%) since the previous day (opening today near 0.63543), marking the 3rd day in a row it has gone down. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 22nd for the day in terms of price change. Let’s take a look at price chart of NZDUSD.

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 down 8 out of the past 14 days.