NZD/USD Down 5 Pips On Hourly Chart, Came Into Today Down For the 5th Day In A Row; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated April 28, 2022 1:44 GMT)

At the time of this writing, NZDUSD’s rate is down -5 pips (-0.07%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDUSD has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDUSD. Given that we see downtrend on the 20 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)

NZDUSD is down 36 pips (0.55%) since the previous day (opening today near 0.65391), marking the 5th day in a row a decline has happened. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 34th in terms of percentage change since the previous day. The price chart of NZDUSD below illustrates.

NZDUSD

NZDUSD Technical Analysis

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 233.9 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days NZDUSD’s price has gone down 20 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on NZDUSD, with 6 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 0.6, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Looking to sell NU around SELL AREA and to close position in TP AREA (+30PIPS)- Enter on signs of reversal- Do not execute Sell if price breaks through Sell Area with Strong bullish momentumTrade Safe