AUDNZD Up 1 Pips On Hourly Chart, Moves Up For the 2nd Straight Day; Crosses 50 and 100 Day Moving Averages

Hourly Update

(Last Updated June 10, 2021 18:15 GMT)

At the time of this writing, AUDNZD’s rate is up 1 pips (0.01%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as AUDNZD has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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 19 pips (0.18%) since the day prior (opening today near 1.07752), marking the 2nd straight day an increase has occurred. Out of the 39 instruments in the Forex asset class, AUDNZD ended up ranking 6th for the day in terms of price change. Below is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

First things first: AUDNZD crossed above its 50 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 50 day average, which is 7.5 pips away. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 7 out of the past 14 days.