NZD/USD Up 4 Pips On Hourly Chart, 3 Day Down Streak Snapped; Breaks Above 100 Day Average

Hourly Update

(Last Updated November 15, 2021 1:41 GMT)

At the time of this writing, NZDUSD’s rate is up 4 pips (0.05%) 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. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NZDUSD. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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, which opened today priced near 0.70385, is up 19 pips 0.27% since the day prior, marking a reversal from the day prior — and the end of a 3 day negative run. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 8th in terms of percentage change since the day prior. Let’s take a look at price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

Notably, NZDUSD crossed above its 100 day moving average yesterday. 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 11.7 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 and 90 day timeframes. Or to simplify this another way, note that out of the past 14 days NZDUSD’s price has gone up 7 them.