(Last Updated December 27, 2021 1:41 GMT)
Currently, NZDUSD’s rate is down -3 pips (-0.05%) from the hour prior. This is the 2nd hour in a row NZDUSD has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. 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)
After 3 up days, NZDUSD snaps its streak, falling 14 pips (-0.21%) over the past day to close at an exchange rate of 0.6816. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 30th for the day in terms of price change. Here is a price chart of NZDUSD.
NZDUSD Technical Analysis
Notably, NZDUSD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. Volatility for NZDUSD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 17 out of the past 30 days.