NZDUSD Down 0 Pips Over Past Hour, Moves Up For the 4th Day In A Row; Nears 100 and 200 Day Moving Averages

Hourly Update

(Last Updated September 15, 2021 1:21 GMT)

Currently, NZDUSD’s rate is down 0 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 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 is up 6 pips (0.08%) since yesterday (opening today near 0.71162), marking the 4th day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, NZDUSD ranked 16th yesterday in terms of percentage price change. Below is a price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

The first thing we should note is that NZDUSD is now close to its 20, 50, 100 and 200 day averages, located at 0.7014, 0.7003, 0.7081 and 0.7119 respectively, and thus may be at a key juncture along those timeframes. 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 2.8 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 18 out of the past 30 days.