(Last Updated April 29, 2021 2:23 GMT)
At the time of this writing, NZDUSD’s rate is up 2 pips (0.02%) from the hour prior. The hourly chart shows that NZDUSD has seen 3 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
NZDUSD End of Day Recap
Updated 00:30 GMT (04:30 EST)
NZDUSD entered today at 0.72663, up 62 pips (0.85%) from yesterday. On a relative basis, yesterday was pretty good: NZDUSD bested all 39 of the assets in the Forex class 🙂 The price chart of NZDUSD below illustrates.
NZDUSD Technical Analysis
The first thing we should note is that NZDUSD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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 100 day average, which is 105.2 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days NZDUSD’s price has gone down 15 them.