(Last Updated September 10, 2021 2:22 GMT)
At the moment, NZDUSD’s rate is down -6 pips (-0.08%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 7 pips (0.09%) since yesterday (opening today near 0.71052), marking the 2nd day in a row an increase has occurred. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 8th for the day in terms of price change. Here is a price chart of NZDUSD.
NZDUSD Technical Analysis
The first thing we should note is that NZDUSD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 200 day average, which is 13.4 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 30 days NZDUSD’s price has gone up 17 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.