NZDUSD Up 2 Pips On Hourly Chart, Moves Up For the 2nd Consecutive Day; Eyes 20 Day Average

Hourly Update

(Last Updated July 23, 2021 23:22 GMT)

At the time of this writing, NZDUSD’s rate is up 2 pips (0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists 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 19 pips (0.27%) since the previous day (opening today near 0.69814), marking the 2nd consecutive day an upward move has occurred. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 10th for the day in terms of price change. The price chart of NZDUSD below illustrates.

NZDUSD

NZDUSD Technical Analysis

Coming into today the current price of NZDUSD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 14 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days NZDUSD’s price has gone up 5 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDUSD; just 1 sell signals and 2 buy signals. This imputes a buy/sell ratio of 2, which is bullish. Here’s a piece we found on fxempire.com; below is a short snippet from it to give you a taste.

The direction of the NZD/USD into the close on Thursday is likely to be determined by trader reaction to .6963 to .6982.