NZD/USD Up 6 Pips Over Past Hour, Moves Down For the 5th Straight Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated June 15, 2022 1:45 GMT)

At the moment, NZDUSD’s rate is up 6 pips (0.09%) from the hour prior. NZDUSD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji 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 down 45 pips (0.72%) since yesterday (opening today near 0.6213), marking the 5th straight day it has gone down. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 37th for the day in terms of price change. Here is a price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

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 10 out of the past 14 days.