(Last Updated January 5, 2021 2:22 GMT)
Currently, NZDUSD’s rate is down -4 pips (-0.05%) 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 100 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 20, 50, 100 and 200 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 down 15 pips (0.21%) since the previous day (opening today near 0.71722), marking the 2nd day in a row a decrease has occurred. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 20th in terms of percentage change since the previous day. Below is a price chart of NZDUSD.
NZDUSD Technical Analysis
Coming into today NZDUSD is now close to its 20 day averages, located at 0.71 respectively, and thus may be at a key juncture along those timeframes. 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. Or to simplify this another way, note that out of the past 30 days NZDUSD’s price has gone up 17 them.