(Last Updated August 25, 2021 1:52 GMT)
At the time of this writing, NZDUSD’s rate is down -6 pips (-0.08%) from the hour prior. This is the 2nd hour in a row NZDUSD has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 42 pips (0.61%) since the previous day (opening today near 0.69373), marking the 3rd consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, NZDUSD ranked 6th the previous day in terms of percentage price change. Below is a price chart of NZDUSD.
NZDUSD Technical Analysis
The first thing we should note is that 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. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 5 out of the past 10 days.