NZDUSD Down 2 Pips On Hourly Chart, Moves Up For the 2nd Consecutive Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated March 31, 2021 0:23 GMT)

At the moment, NZDUSD’s rate is down -2 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. 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)

NZDUSD is up 38 pips (0.54%) since yesterday (opening today near 0.70045), marking the 2nd consecutive day an increase has occurred. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 9th in terms of percentage change since yesterday. Below is a price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

Notably, the current price of NZDUSD is sitting close to its 20, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 120.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 7 out of the past 10 days.