AUDNZD Up 13 Pips in Last Hour, Entered Today Down For the 2nd Consecutive Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated September 16, 2021 2:13 GMT)

At the time of this writing, AUDNZD’s rate is up 13 pips (0.12%) from the hour prior. AUDNZD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDNZD. Given that we see downtrend on the 20 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.

AUDNZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDNZD is down 21 pips (0.21%) since the previous day (opening today near 1.02923), marking the 2nd consecutive day it has gone down. Relative to other instruments in the Forex asset class, AUDNZD ranked 24th the previous day in terms of percentage price change. The price chart of AUDNZD below illustrates.

AUDNZD

AUDNZD Technical Analysis

The first thing we should note is that the current price of AUDNZD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 20 out of the past 30 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for AUDNZD; just 2 sell signals and 2 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

audnzd but to 1.0393 it has been touched a support and should go up