NZDUSD Down 5 Pips in Last Hour, Outperforms All Forex; Crosses 100 Day Moving Average

Hourly Update

(Last Updated May 6, 2021 2:22 GMT)

Currently, NZDUSD’s rate is down -5 pips (-0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 entered today at 0.7217, up 56 pips (0.78%) from the previous day. NZDUSD outperformed all 39 assets in the Forex asset class the previous day. Below is a price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NZDUSD crossed above its 100 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 49.2 pips away. 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 30 days NZDUSD’s price has gone up 16 them.