NZDUSD Up 3 Pips in Last Hour, 4 Day Up Streak Snapped; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated September 8, 2021 0:22 GMT)

At the moment, NZDUSD’s rate is up 3 pips (0.04%) from the hour prior. The hourly chart shows that NZDUSD has seen 3 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDUSD. Given that we see downtrend 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 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)

A moment of silence, please, for the end of NZDUSD’s 4 day up streak; price ended yesterday down 21 pips (-0.3%) to finish the day at a rate of 0.71371. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 36th in terms of percentage change since yesterday. The price chart of NZDUSD below illustrates.

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 19.4 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone up 7 out of the past 10 days.