AUDNZD Down 6 Pips On Hourly Chart, Moves Down For the 3rd Day In A Row; Crosses 20 and 100 Day Moving Averages

Hourly Update

(Last Updated October 14, 2020 2:14 GMT)

At the moment, AUDNZD’s rate is down -6 pips (-0.06%) from the hour prior. This is the 2nd straight hour AUDNZD has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 83 pips (0.76%) since the previous day (opening today near 1.07601), marking the 3rd day in a row a decline has happened. Out of the 40 instruments in the Forex asset class, AUDNZD ended up ranking 36th for the day in terms of price change. Here is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

First things first: AUDNZD crossed below its 20 and 100 day moving averages yesterday. 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 100 day average, which is 17.6 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days AUDNZD’s price has gone down 8 them.