(Last Updated April 9, 2021 23:22 GMT)
At the time of this writing, NZDUSD’s rate is up 4 pips (0.06%) 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 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 hour moving average has been crossed, with price now being 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)
The back and forth price flow continues for NZDUSD, which started today off at 0.70615, up 51 pips 0.72% from the day prior. NZDUSD outperformed all 39 assets in the Forex asset class the day prior. 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 0.707, 0.7167, 0.7139 and 0.6892 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 8 pips away. 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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 10 days NZDUSD’s price has gone up 5 them. We’re also seeing a bullish engulfing pattern here, and given the downtrend on the 30 day