(Last Updated April 8, 2021 3:22 GMT)
At the moment, NZDUSD’s rate is up 5 pips (0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 200 hour moving average, resulting in them so that price is now turning above it. 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 48 pips (0.69%) since the previous day (opening today near 0.70107), marking the 2nd day in a row it has gone down. Relative to other instruments in the Forex asset class, NZDUSD ranked 36th the previous day in terms of percentage price change. The price chart of NZDUSD below illustrates.
NZDUSD Technical Analysis
Coming into today NZDUSD is now close to its 20, 50, 100 and 200 day averages, located at 0.7078, 0.717, 0.7138 and 0.6889 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 67.2 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 14 days NZDUSD’s price has gone down 9 them.