AUD/NZD 4 Hour Price Update
Updated March 26, 2020 05:16 AM GMT (01:16 AM EST)
AUD/NZD is down 28 pips (0.28%) since the previous 4 hours (opening the current 4 hour candle near 1.0136), marking the 5th candle in a row a decline has happened. Compared to its peers in the Forex, AUD/NZD gave its buyers a return that ranked 37th in terms of percentage change since the previous 4 hours.
AUD/NZD End of Day Recap
Updated 00:30 GMT (04:30 EST)
A moment of silence, please, for the end of AUD/NZD’s 3 day up streak; price ended the day prior down 75 pips (-0.73%) to finish the day at a rate of 1.0169. Out of the 40 instruments in the Forex asset class, AUD/NZD ended up ranking 27th for the day in terms of price change. Let’s take a look at price chart of 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 moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 5 out of the past 10 days.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on AUDNZD, with 8 buy signals on our radar and 8 sell signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
PRICE ON THE DAILY CLOSE FINISHED AS A BEARISH ENGULFING PIN BAR (STRONG BEARISH CANDLE) THIS WILL BE CLEAR TO SEE FOR MANY AND FURTHERMORE PEOPLE JUMPING IN SELLS RIGHT NOW HOWEVER WHERE PRICE IS CURRENTLY AT THERE ISN’T A TRADE WORTH TAKING WITH A GOOD RISK/REWARD RATIO….I’D LIKE TO SEE PRICE DO A PULLBACK TO ALLOW US TO GET AN ENTRY WITH A GOOD RISK/REWARD THEN THE DROP MOVING FURTHER….I HAVE NOW LAUNCHED A FREE TELEGRAM CHANNEL FOR MARKET INSIGHT AND TRADES THAT I TAKE.