(Last Updated January 14, 2021 2:23 GMT)
At the time of this writing, NZDUSD’s rate is up 1 pips (0.01%) from the hour prior. This is the 3rd 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. 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 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 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)
The choppiness in the recent daily price action of NZDUSD continues; to start today, it came in at a price of 0.71761, down 36 pips (0.5%) since yesterday. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 34th in terms of percentage change since yesterday. Here is a price chart of NZDUSD.
NZDUSD Technical Analysis
Coming into today NZDUSD is now close to its 20 and 50 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 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days NZDUSD’s price has gone up 7 them.