NZD/USD Up 10 Pips in Last Hour, 3 Day Down Streak Broken; Breaks Above 20 Day Average

Hourly Update

(Last Updated January 5, 2022 1:44 GMT)

At the moment, NZDUSD’s rate is up 10 pips (0.14%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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)

After 3 down days, NZDUSD snaps its streak, rising 27 pips (0.39%) over the past day to close at an exchange rate of 0.68148. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 12th for the day in terms of price change. Below is a price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

First things first: NZDUSD crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 6 out of the past 10 days.