(Last Updated January 8, 2021 3:23 GMT)
At the moment, NZDUSD’s rate is down -5 pips (-0.07%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDUSD has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Of note is that the 50 hour changed directions on NZDUSD; it is now pointing down. 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 entered today at 0.72535, down 34 pips (0.47%) from the previous day. Relative to other instruments in the Forex asset class, NZDUSD ranked 39th the previous day in terms of percentage price change. Let’s take a look at price chart of NZDUSD.
NZDUSD Technical Analysis
The first thing we should note is that NZDUSD is now close to its 20 day moving averages, which may act as price barrier for the asset. 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 30 days NZDUSD’s price has gone up 17 them.