NZD/USD Up 8 Pips in Last Hour, Tops All Forex; Moves Up For the 2nd Consecutive Day

Hourly Update

(Last Updated July 29, 2022 1:43 GMT)

At the moment, NZDUSD’s rate is up 8 pips (0.13%) from the hour prior. NZDUSD has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. 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 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 up 28 pips (0.45%) since the day prior (opening today near 0.6289), marking the 2nd consecutive day it has gone up. NZDUSD outperformed all 39 assets in the Forex asset class the day prior. Let’s take a look at price chart of NZDUSD.

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. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 14 days NZDUSD’s price has gone up 8 them.