(Last Updated July 19, 2022 1:35 GMT)
At the moment, AUDNZD’s rate is down -3 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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 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 48 pips (0.44%) since the day prior (opening today near 1.107), marking the 2nd day in a row an increase has occurred. Out of the 39 instruments in the Forex asset class, AUDNZD ended up ranking 11th for the day in terms of price change. Let’s take a look at price chart of AUDNZD.
AUDNZD Technical Analysis
Notably, AUDNZD crossed above its 50 day moving average 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 35.9 pips away. It should be noted, though, the 50 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 6 out of the past 10 days.