NZDUSD Up 9 Pips Over Past Hour, Entered Today Down For the 2nd Consecutive Day; Breaks Below 200 Day Average

Hourly Update

(Last Updated September 8, 2021 12:21 GMT)

Currently, NZDUSD’s rate is up 9 pips (0.12%) from the hour prior. The hourly chart shows that NZDUSD has seen 3 straight up hours. Regarding the trend, note that the strongest trend exists on the 50 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)

NZDUSD is down 40 pips (0.56%) since yesterday (opening today near 0.70971), marking the 2nd consecutive day it has gone down. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 38th in terms of percentage change since yesterday. Below is a price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

Notably, NZDUSD crossed below its 200 day moving average yesterday. 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 12.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 30 days NZDUSD’s price has gone up 16 them.