NZD/USD Up 1 Pips Over Past Hour, Moves Up For the 2nd Consecutive Day; Nears 50 and 100 Day Moving Averages

Hourly Update

(Last Updated November 16, 2021 1:49 GMT)

Currently, NZDUSD’s rate is up 1 pips (0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NZDUSD. Given that we see downtrend on the 10 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 2 pips (0.03%) since yesterday (opening today near 0.70409), marking the 2nd consecutive day it has gone up. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 18th in terms of percentage change since yesterday. Here is a price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

Notably, NZDUSD is now close to its 20, 50, 100 and 200 day averages, located at 0.7133, 0.706, 0.7027 and 0.7096 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 100 day average, which is 14.1 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 and 90 day timeframes. Or to simplify this another way, note that out of the past 10 days NZDUSD’s price has gone up 5 them.