NZD/USD Up 3 Pips Over Past Hour, Entered Today Down For the 2nd Consecutive Day; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated July 5, 2022 1:42 GMT)

Currently, NZDUSD’s rate is up 3 pips (0.05%) from the hour prior. NZDUSD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. 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 1 pips (0.02%) since yesterday (opening today near 0.6205), marking the 2nd consecutive day a decline has happened. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 29th in terms of percentage change since yesterday. The price chart of NZDUSD below illustrates.

NZDUSD

NZDUSD Technical Analysis

Notably, the current price of NZDUSD is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 7 out of the past 10 days.