NZDUSD Down 3 Pips On Hourly Chart, Outperforms All Forex; 3 Day Down Streak Snapped

Hourly Update

(Last Updated October 12, 2020 2:20 GMT)

Currently, NZDUSD’s rate is down -3 pips (-0.05%) from the hour prior. NZDUSD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. 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)

After 3 down days, NZDUSD snaps its streak, rising 92 pips (1.41%) over the past day to close at an exchange rate of 0.66671. NZDUSD outperformed all 40 assets in the Forex asset class the previous day. Congrats to its holders! Below is a price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

First things first: NZDUSD crossed above its 20 and 50 day moving averages yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone up 7 out of the past 14 days.