(Last Updated November 4, 2021 3:22 GMT)
At the time of this writing, NZDUSD’s rate is down -4 pips (-0.05%) from the hour prior. The hourly chart shows that NZDUSD has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 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 0.71706, up 46 pips 0.64% from yesterday. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 4th for the day in terms of price change. The price chart of NZDUSD below illustrates.
NZDUSD Technical Analysis
Notably, NZDUSD is now close to its 20, 50, 100 and 200 day averages, located at 0.7094, 0.7056, 0.7022 and 0.7101 respectively, and thus may be at a key juncture along those timeframes. 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 69.8 pips away. It should be noted, though, the 200 day simple moving average turned upwards, which may be a bullish sign. 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 up. Or to simplify this another way, note that out of the past 14 days NZDUSD’s price has gone up 9 them.