NZDUSD Up 2 Pips in Last Hour, 2 Day Down Streak Snapped; Breaks Above 20 Day Average

Hourly Update

(Last Updated February 19, 2021 23:23 GMT)

At the time of this writing, NZDUSD’s rate is up 2 pips (0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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 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 entered today at 0.72191, up 30 pips (0.41%) from the previous day. Relative to other instruments in the Forex asset class, NZDUSD ranked 8th the previous day in terms of percentage price change. The price chart of NZDUSD below illustrates.

NZDUSD

NZDUSD Technical Analysis

Notably, NZDUSD crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 days.