NZD/USD Up 9 Pips On Hourly Chart, 2 Day Up Streak Broken; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated July 12, 2022 1:43 GMT)

At the time of this writing, NZDUSD’s rate is up 9 pips (0.14%) from the hour prior. The hourly chart shows that NZDUSD has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji 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 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)

The back and forth price flow continues for NZDUSD, which started today off at 0.611, down 82 pips 1.32% from the day prior. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 37th for the day in terms of price change. Below is a price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

Notably, NZDUSD is now close to its 20 day averages, located at 0.6244 respectively, and thus may be at a key juncture along those timeframes. Volatility for NZDUSD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 20 out of the past 30 days.

The View From Around the Web

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

Am looking for nice longs on the pair if everything plays out as planned…Like and Subscribe.