AUD/NZD Up 1 Pips On 4 Hour Chart, Entered Today Up For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart

AUD/NZD 4 Hour Price Update

Updated July 30, 2020 01:07 AM GMT (09:07 PM EST)

The back and forth price flow continues for AUD/NZD, which started the current 4 hour candle off at 1.0775, up 1 pips 0.01% from the previous 4 hours. Compared to its peers in the Forex, AUD/NZD gave its buyers a return that ranked 13th in terms of percentage change since the previous 4 hours.

AUD/NZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/NZD is up 2 pips (0.01%) since the previous day (opening today near 1.07766), marking the 3rd day in a row an increase has occurred. Out of the 40 instruments in the Forex asset class, AUD/NZD ended up ranking 20th for the day in terms of price change. Here is a price chart of AUD/NZD.

AUD/NZD

AUD/NZD Technical Analysis

The first thing we should note is that AUD/NZD is now close to its 20, 50 and 100 day averages, located at 1.0675, 1.0675 and 1.0652 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 50 day average, which is 101.6 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days AUD/NZD’s price has gone up 5 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDNZD, with 3 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 0.3, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Stops just below the support levelFollow me on tradingview for more ideas and sniper entries….Ideas posted are not financial advise, but merely just to give insights and education for traders….As sniper traders, we tread carefully, then we take shots immediately.