NZD/USD Up 5 Pips On Hourly Chart, Moves Down For the 6th Day In A Row; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated April 29, 2022 1:45 GMT)

At the moment, NZDUSD’s rate is up 5 pips (0.08%) from the hour prior. The hourly chart shows that NZDUSD has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDUSD. Given that we see an uptrend on the 10 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 is down 48 pips (0.73%) since the day prior (opening today near 0.64911), marking the 6th day in a row a decrease has occurred. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 38th for the day in terms of price change. Below is a price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

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 20 day average, which is 276.5 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. Or to simplify this another way, note that out of the past 30 days NZDUSD’s price has gone down 21 them.