NZDUSD Down 8 Pips On Hourly Chart, 2 Day Up Streak Broken; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated November 18, 2020 2:20 GMT)

At the time of this writing, NZDUSD’s rate is down -8 pips (-0.12%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDUSD has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them with price now being below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

NZDUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDUSD entered today at 0.68912, down 13 pips (0.19%) from the day prior. Out of the 40 instruments in the Forex asset class, NZDUSD ended up ranking 26th for the day in terms of price change. The price chart of NZDUSD below illustrates.

NZDUSD

NZDUSD Technical Analysis

Coming into today NZDUSD is now close to its 20 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 18 out of the past 30 days. Also, candlestick traders! Note we see doji pattern appearing here as well.