AUDNZD Down 2 Pips On Hourly Chart, Moves Up For the 4th Straight Day; Crosses 20 and 200 Day Moving Averages

Hourly Update

(Last Updated June 7, 2021 3:14 GMT)

At the time of this writing, AUDNZD’s rate is down -2 pips (-0.02%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDNZD has now gone down 4 of the past 5 hours. 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 an uptrend 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

AUDNZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDNZD is up 20 pips (0.18%) since the day prior (opening today near 1.07399), marking the 4th straight day an increase has occurred. Compared to its peers in the Forex, AUDNZD gave its buyers a return that ranked 10th in terms of percentage change since the day prior. Let’s take a look at price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

Notably, AUDNZD crossed above its 20 and 200 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 200 day average, which is 5.3 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 16 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.