NZD/USD Up 23 Pips in Last Hour, 5 Day Down Streak Broken; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated June 16, 2022 1:43 GMT)

Currently, NZDUSD’s rate is up 23 pips (0.37%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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)

A moment of silence, please, for the end of NZDUSD’s 5 day down streak; price ended yesterday up 71 pips (1.14%) to finish the day at a rate of 0.6284. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 4th in terms of percentage change since yesterday. Below is a price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

Notably, 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 down. Or to simplify this another way, note that out of the past 14 days NZDUSD’s price has gone down 9 them.