NZDUSD Up 2 Pips On Hourly Chart, Moves Up For the 2nd Consecutive Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated April 27, 2021 2:22 GMT)

Currently, NZDUSD’s rate is up 2 pips (0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NZDUSD. Given that we see an uptrend 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

NZDUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDUSD is up 35 pips (0.49%) since the previous day (opening today near 0.72314), marking the 2nd consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, NZDUSD ranked 9th the previous day in terms of percentage price change. Let’s take a look at price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

The first thing we should note is that the current price of NZDUSD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 74.2 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days NZDUSD’s price has gone down 15 them.