(Last Updated November 17, 2020 2:20 GMT)
At the time of this writing, NZDUSD’s rate is up 3 pips (0.04%) from the hour prior. This is the 2nd consecutive hour 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 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 an uptrend 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 choppiness in price, as the 20, 50, 100 and 200 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 63 pips (0.92%) since yesterday (opening today near 0.6904), marking the 2nd consecutive day an increase has occurred. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 2nd in terms of percentage change since yesterday. Let’s take a look at price chart of NZDUSD.
NZDUSD Technical Analysis
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 9 out of the past 10 days.