(Last Updated January 7, 2021 2:22 GMT)
At the time of this writing, NZDUSD’s rate is down -6 pips (-0.08%) 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 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
NZDUSD End of Day Recap
Updated 00:30 GMT (04:30 EST)
NZDUSD is up 42 pips (0.58%) since the day prior (opening today near 0.72875), marking the 2nd day in a row it has gone up. Out of the 40 instruments in the Forex asset class, NZDUSD ended up ranking 8th for the day in terms of price change. Below is a price chart of NZDUSD.
NZDUSD Technical Analysis
The first thing we should note is that the current price of NZDUSD is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. Or to simplify this another way, note that out of the past 10 days NZDUSD’s price has gone up 6 them.