AUD/NZD Down 4 Pips On Hourly Chart; Eyes 20 and 50 Day Averages

Hourly Update

(Last Updated August 2, 2022 1:35 GMT)

At the moment, AUDNZD’s rate is down -4 pips (-0.04%) 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 100 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)

The back and forth price flow continues for AUDNZD, which started today off at 1.1093, down 19 pips 0.17% from the day prior. Relative to other instruments in the Forex asset class, AUDNZD ranked 22nd the day prior in terms of percentage price change. Let’s take a look at price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

Notably, the current price of AUDNZD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. For additional context, note that price has gone up 17 out of the past 30 days.