NZD/USD Up 3 Pips Over Past Hour; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated July 19, 2022 1:42 GMT)

At the moment, NZDUSD’s rate is up 3 pips (0.04%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. 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 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)

The back and forth price flow continues for NZDUSD, which started today off at 0.6152, down 7 pips 0.11% from the day prior. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 29th in terms of percentage change since the day prior. Let’s take a look at price chart of NZDUSD.

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 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days NZDUSD’s price has gone down 9 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.