AUD/NZD Down 32 Pips in Last 4 Hours, Moves Up For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart

AUD/NZD 4 Hour Price Update

Updated March 31, 2020 01:07 PM GMT (09:07 AM EST)

AUD/NZD entered the current 4 hour candle at 1.0257, down 32 pips (0.31%) from the last 4 hour candle. Compared to its peers in the Forex, AUD/NZD gave its buyers a return that ranked 25th in terms of percentage change since the last 4 hour candle.

AUD/NZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/NZD is up 9 pips (0.09%) since yesterday (opening today near 1.0261), marking the 2nd day in a row an upward move has occurred. Out of the 40 instruments in the Forex asset class, AUD/NZD ended up ranking 16th for the day in terms of price change. Here is a price chart of AUD/NZD.

AUD/NZD Technical Analysis

Coming into today AUD/NZD is now close to its 20, 50, 100 and 200 day averages, located at 1.0203, 1.0342, 1.037 and 1.0523 respectively, and thus may be at a key juncture along those timeframes. Volatility for AUD/NZD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 and 90 day timeframes. For additional context, note that price has gone up 7 out of the past 14 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDNZD, with 8 buy signals on our radar and 12 sell signals. This imputes a buy/sell ratio of 0.67, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on that we thought you might enjoy.