NZD/USD Up 2 Pips On Hourly Chart, Makes Big Move Relative to Past Month; in an Uptrend Over Past 90 Days

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Hourly Update (Last Updated February 23, 2021 1:59 GMT) Currently, NZDUSD’s rate is up 2 pips (0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. 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…

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