NZD/USD Up 6 Pips On Hourly Chart, Moves Up For the 2nd Consecutive Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated November 19, 2021 1:44 GMT)

At the moment, NZDUSD’s rate is up 6 pips (0.08%) 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. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. 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 34 pips (0.49%) since yesterday (opening today near 0.70347), marking the 2nd consecutive day an upward move has occurred. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 10th in terms of percentage change since yesterday. Here is a price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

First things first: 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 7.2 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 up 8 out of the past 14 days.