(Last Updated September 6, 2021 23:21 GMT)
At the time of this writing, NZDUSD’s rate is down 0 pips (-0.01%) 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 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 up 50 pips (0.7%) since the day prior (opening today near 0.71583), marking the 4th straight day an upward move has occurred. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 2nd for the day in terms of price change. Let’s take a look at price chart of NZDUSD.
NZDUSD Technical Analysis
First things first: NZDUSD crossed above its 200 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 14 days NZDUSD’s price has gone up 9 them.