NZDUSD Down 2 Pips Over Past Hour, Breaks Below 20 Day Average; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated January 25, 2021 23:22 GMT)

Currently, NZDUSD’s rate is down -2 pips (-0.02%) 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 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, with price now being below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

NZDUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDUSD, which opened today priced near 0.71799, is down 37 pips 0.52% since yesterday, marking a reversal from the day prior — and the end of a 3 day positive run. Relative to other instruments in the Forex asset class, NZDUSD ranked 35th yesterday in terms of percentage price change. Let’s take a look at price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NZDUSD crossed below its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days NZDUSD’s price has gone up 7 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDUSD, with 3 buy signals on our radar and 7 sell signals. This imputes a buy/sell ratio of 0.43, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

On the weekly timeframe we are still overall bearish as we are right below a key level of resistance. On the daily timeframe last week failed to close as a bearish engulfing so I do expect this to head higher back into the weekly key level of resistance. On the H4 timeframe is where I see things the clearest. We are in a downtrend clearly but finding a level of support around the 61.8% level. I will ride this trend up before looking for more short opportunities as long as it remains below 0.72400