(Last Updated March 26, 2021 1:22 GMT)
Currently, NZDUSD’s rate is up 6 pips (0.09%) from the hour prior. This is the 2nd hour in a row NZDUSD has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
NZDUSD End of Day Recap
Updated 00:30 GMT (04:30 EST)
NZDUSD is down 24 pips (0.35%) since the day prior (opening today near 0.69672), marking the 5th straight day a decrease has occurred. Relative to other instruments in the Forex asset class, NZDUSD ranked 32nd the day prior in terms of percentage price change. The price chart of NZDUSD below illustrates.
NZDUSD Technical Analysis
Notably, NZDUSD is now close to its 100 and 200 day averages, located at 0.7118 and 0.686 respectively, and thus may be at a key juncture along those timeframes. 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 107 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. For additional context, note that price has gone down 16 out of the past 30 days.