(Last Updated November 11, 2020 0:20 GMT)
At the moment, NZDUSD’s rate is up 1 pips (0.01%) from the hour prior. The hourly chart shows that NZDUSD has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDUSD. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 20 hour changed directions on NZDUSD; it is now pointing down. 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 is up 50 pips (0.74%) since the previous day (opening today near 0.68192), marking the 6th straight day an increase has occurred. Relative to other instruments in the Forex asset class, NZDUSD ranked 15th the previous day in terms of percentage price change. The price chart of NZDUSD below illustrates.
NZDUSD Technical Analysis
Coming into today the current price of NZDUSD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days NZDUSD’s price has gone up 7 them.