NZDUSD Down 1 Pips On Hourly Chart, 2 Day Up Streak Snapped; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated April 1, 2021 0:23 GMT)

Currently, NZDUSD’s rate is down -1 pips (-0.01%) from the hour prior. NZDUSD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NZDUSD. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 20 hour changed directions on NZDUSD; it is now pointing up. 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)

The back and forth price flow continues for NZDUSD, which started today off at 0.69879, down 17 pips 0.24% from the previous day. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 35th in terms of percentage change since the previous day. Here is a price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

Notably, the current price of NZDUSD is sitting close to its 20, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 200 day average, which is 116.8 pips away. Trend traders will want to observe that the strongest trend appears on the 14 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.