Hourly Update

(Last Updated November 29, 2022 1:44 GMT)

At the time of this writing, NZDUSD’s rate is down 0 pips (-0.01%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Nzdusd has now gone down 9 of the past 10 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NZDUSD. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 down 81 pips (1.3%) since yesterday (opening today near 0.6163), marking the 2nd straight day it has gone down. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 36th in terms of percentage change since yesterday. Let’s take a look at price chart of NZDUSD.

NZDUSD Technical Analysis

The first thing we should note is that NZDUSD is now close to its 20, 100 and 200 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 20 day average, which is 109.7 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. 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 7 out of the past 14 days.

The post NZD/USD Down 0 Pips Over Past Hour, Moves Down For the 2nd Straight Day; in an Uptrend Over Past 30 Days appeared first on CFDTrading.