(Last Updated April 30, 2021 4:23 GMT)
At the moment, NZDUSD’s rate is up 0 pips (0.01%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NZDUSD has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. 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)
The back and forth price flow continues for NZDUSD, which started today off at 0.7246, down 20 pips 0.28% from yesterday. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 34th for the day in terms of price change. Let’s take a look at price chart of NZDUSD.
NZDUSD Technical Analysis
The first thing we should note is that NZDUSD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 100 day average, which is 82.9 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days NZDUSD’s price has gone up 5 them.