(Last Updated February 22, 2021 23:22 GMT)
At the moment, NZDUSD’s rate is up 2 pips (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
NZDUSD End of Day Recap
Updated 00:30 GMT (04:30 EST)
NZDUSD is up 76 pips (1.06%) since the day prior (opening today near 0.72954), marking the 2nd day in a row it has gone up. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 4th for the day in terms of price change. Let’s take a look at price chart of NZDUSD.
NZDUSD Technical Analysis
Notably, NZDUSD is now close to its 20 and 50 day averages, located at 0.7207 and 0.7178 respectively, and thus may be at a key juncture along those timeframes. 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 10 days NZDUSD’s price has gone up 6 them.