(Last Updated February 15, 2021 23:22 GMT)
At the moment, NZDUSD’s rate is down -3 pips (-0.04%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDUSD has now gone down 5 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. 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 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 0.72155, down 14 pips (0.2%) from the previous day. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 32nd for the day in terms of price change. Here is a price chart of NZDUSD.
NZDUSD Technical Analysis
The first thing we should note is that 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 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 6 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.