NZDUSD Up 24 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated February 12, 2021 17:29 GMT)

At the moment, NZDUSD’s rate is up 24 pips (0.33%) from the hour prior. This is the 2nd straight hour NZDUSD has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 and 200 hour moving averages, resulting in them so that price is now turning above them. 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 0.72297, up 15 pips 0.21% from the day prior. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 11th in terms of percentage change since the day prior. Let’s take a look at price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

The first thing we should note is that NZDUSD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 17 out of the past 30 days.