NZDUSD Up 9 Pips in Last Hour, Breaks Above 100 Day Average; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated April 26, 2021 3:22 GMT)

At the time of this writing, NZDUSD’s rate is up 9 pips (0.13%) from the hour prior. The hourly chart shows that NZDUSD has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Of note is that the 50 hour changed directions on NZDUSD; it is now pointing up. 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)

The choppiness in the recent daily price action of NZDUSD continues; to start today, it came in at a price of 0.7196, up 42 pips (0.58%) since the previous day. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 2nd in terms of percentage change since the previous day. The price chart of NZDUSD below illustrates.

NZDUSD

NZDUSD Technical Analysis

First things first: 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 40.4 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 15 out of the past 30 days.