(Last Updated September 13, 2021 11:22 GMT)
Currently, NZDUSD’s rate is down -3 pips (-0.04%) from the hour prior. NZDUSD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists 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)
NZDUSD is up 5 pips (0.08%) since yesterday (opening today near 0.71106), marking the 3rd straight day an increase has occurred. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 15th for the day in terms of price change. Here is a price chart of NZDUSD.
NZDUSD Technical Analysis
Notably, 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 8.2 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. For additional context, note that price has gone up 10 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.