(Last Updated January 12, 2021 2:22 GMT)
Currently, NZDUSD’s rate is down -1 pips (-0.01%) from the hour prior. NZDUSD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar 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 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 down 72 pips (0.99%) since yesterday (opening today near 0.71605), marking the 3rd day in a row it has gone down. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 39th in terms of percentage change since yesterday. Below is a price chart of NZDUSD.
NZDUSD Technical Analysis
The first thing we should note is that NZDUSD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days NZDUSD’s price has gone up 16 them.