(Last Updated September 3, 2021 2:13 GMT)
At the time of this writing, AUDNZD’s rate is down -1 pips (-0.01%) from the hour prior. This is the 2nd consecutive hour AUDNZD has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar 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 entered today at 1.0407, down 18 pips (0.18%) from yesterday. Out of the 39 instruments in the Forex asset class, AUDNZD ended up ranking 28th for the day in terms of price change. Let’s take a look at price chart of AUDNZD.
AUDNZD Technical Analysis
Notably, the current price of AUDNZD is sitting close to its 20, 50 and 100 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 90 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. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.