AUDNZD Up 5 Pips On Hourly Chart, Came Into Today Down For the 7th Straight Day; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated October 20, 2020 10:14 GMT)

At the time of this writing, AUDNZD’s rate is up 5 pips (0.05%) from the hour prior. AUDNZD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDNZD. Given that we see an uptrend on the 20 and 5 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

AUDNZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDNZD is down 18 pips (0.17%) since the day prior (opening today near 1.06924), marking the 7th straight day a decrease has occurred. Out of the 40 instruments in the Forex asset class, AUDNZD ended up ranking 28th for the day in terms of price change. Here is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

Coming into today AUDNZD is now close to its 20, 50, 100 and 200 day averages, located at 1.0788, 1.0856, 1.0778 and 1.0619 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 200 day average, which is 73.6 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 14 days AUDNZD’s price has gone down 10 them.