NZDUSD Down 2 Pips in Last Hour, in a Downtrend Over Past 30 Days; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated April 5, 2021 2:22 GMT)

At the moment, NZDUSD’s rate is down -2 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. 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 0.70221, down 0 pips (0%) from yesterday. Relative to other instruments in the Forex asset class, NZDUSD ranked 26th yesterday in terms of percentage price change. Let’s take a look at price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

Notably, NZDUSD is now close to its 20, 50, 100 and 200 day averages, located at 0.7096, 0.7178, 0.7132 and 0.6879 respectively, and thus may be at a key juncture along those timeframes. 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 20 day average, which is 74.2 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 6 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.