Hourly Update

(Last Updated November 22, 2022 1:44 GMT)

At the moment, NZDUSD’s rate is down -6 pips (-0.09%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the Trend, note that the strongest trend exists on the 50 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)

The choppiness in the recent daily price action of NZDUSD continues; to start today, it came in at a price of 0.6096, down 54 pips (0.88%) since the previous day. Out of the 39 instruments in the Forex asset class, NZDUSD ended up ranking 38th for the day in terms of price change. Below is a price chart of NZDUSD.

NZDUSD Technical Analysis

The first thing we should note is that NZDUSD is now close to its 20 and 100 day averages, located at 0.5953 and 0.6016 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 100 day average, which is 80 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 5 out of the past 10 days.

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