(Last Updated December 29, 2021 1:47 GMT)
At the time of this writing, NZDUSD’s rate is up 3 pips (0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. 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)
NZDUSD is down 12 pips (0.17%) since the previous day (opening today near 0.68037), marking the 3rd straight day a decline has happened. Relative to other instruments in the Forex asset class, NZDUSD ranked 28th the previous day in terms of percentage price change. Let’s take a look at price chart of NZDUSD.
NZDUSD Technical Analysis
Notably, NZDUSD is now close to its 20, 50 and 100 day averages, located at 0.6782, 0.6945 and 0.6976 respectively, and thus may be at a key juncture along those timeframes. Volatility for NZDUSD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days NZDUSD’s price has gone up 5 them.