(Last Updated September 8, 2021 1:50 GMT)
At the moment, NZDUSD’s rate is down -3 pips (-0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 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)
NZDUSD is down 40 pips (0.56%) since the day prior (opening today near 0.70971), marking the 2nd consecutive day it has gone down. Relative to other instruments in the Forex asset class, NZDUSD ranked 38th the day prior in terms of percentage price change. Let’s take a look at price chart of NZDUSD.
NZDUSD Technical Analysis
First things first: NZDUSD crossed below 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 100 day average, which is 12.6 pips away. Trend traders will want to observe that the strongest trend appears on the 14 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. For additional context, note that price has gone up 6 out of the past 10 days.