(Last Updated September 16, 2021 8:22 GMT)
Currently, NZDUSD’s rate is down -2 pips (-0.02%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDUSD has now gone down 5 of the past 5 hours. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. 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)
The back and forth price flow continues for NZDUSD, which started today off at 0.71276, up 33 pips 0.46% from the previous day. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 3rd in terms of percentage change since the previous day. The price chart of NZDUSD below illustrates.
NZDUSD Technical Analysis
First things first: NZDUSD crossed above its 200 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 7.8 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 14 days NZDUSD’s price has gone up 10 them.