NZD/USD Down 5 Pips On Hourly Chart, Came Into Today Up For the 2nd Straight Day; Breaks Above 50 Day Average

Hourly Update

(Last Updated August 5, 2022 1:44 GMT)

At the moment, NZDUSD’s rate is down -5 pips (-0.08%) from the hour prior. The hourly chart shows that NZDUSD has seen 3 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 32 pips (0.51%) since the day prior (opening today near 0.6302), marking the 2nd straight day an increase has occurred. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 9th for the day in terms of price change. The price chart of NZDUSD below illustrates.

NZDUSD

NZDUSD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NZDUSD crossed above its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 30 days NZDUSD’s price has gone up 15 them.