(Last Updated February 24, 2021 0:25 GMT)
Currently, NZDUSD’s rate is up 3 pips (0.04%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NZDUSD has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDUSD. Given that we see an uptrend 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 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 35 pips (0.47%) since yesterday (opening today near 0.733), marking the 3rd day in a row an upward move has occurred. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 8th in terms of percentage change since yesterday. The price chart of NZDUSD below illustrates.
NZDUSD Technical Analysis
Notably, the current price of NZDUSD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 6 out of the past 10 days.