(Last Updated December 20, 2021 1:42 GMT)
At the moment, 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 8 of the past 10 hours. Regarding the trend, note that the strongest trend exists on the 20 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)
The back and forth price flow continues for NZDUSD, which started today off at 0.6737, down 51 pips 0.75% from the previous day. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 38th for the day in terms of price change. Below is a price chart of NZDUSD.
NZDUSD Technical Analysis
Coming into today NZDUSD is now close to its 20 day moving averages, which may act as price barrier for the asset. 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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days NZDUSD’s price has gone up 6 them.