AUD/NZD Down 2 Pips in Last Hour, Came Into Today Up For the 3rd Straight Day; Social Sentiment Biased Towards Selling

Hourly Update

(Last Updated January 7, 2022 1:36 GMT)

At the time of this writing, AUDNZD’s rate is down -2 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 50 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 10 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 up 1 pips (0.01%) since the previous day (opening today near 1.06285), marking the 3rd straight day it has gone up. Compared to its peers in the Forex, AUDNZD gave its buyers a return that ranked 19th in terms of percentage change since the previous day. 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 1.0595, 1.049, 1.0461 and 1.0578 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 20 day average, which is 34 pips away. Volatility for AUDNZD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days AUDNZD’s price has gone up 17 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDNZD, with 0 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Potential return from daily level.It is not investment advice.