(Last Updated June 10, 2021 18:26 GMT)
At the moment, NZDUSD’s rate is up 3 pips (0.04%) from the hour prior. This is the 2nd hour in a row NZDUSD has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 hour moving average has been crossed, so that price is now turning above it. 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 20 pips (0.28%) since yesterday (opening today near 0.71722), marking the 2nd consecutive day it has gone down. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 36th in terms of percentage change since yesterday. Let’s take a look at price chart of NZDUSD.
NZDUSD Technical Analysis
Notably, NZDUSD crossed below its 50 and 100 day moving averages yesterday. 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 50 day average, which is 7.8 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. Also of note is that on the 30 and 90 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 10 days NZDUSD’s price has gone down 6 them.