AUDNZD Down 6 Pips On Hourly Chart, in an Uptrend Over Past 30 Days; Price Base in Formation Over Past 14 Days

Hourly Update

(Last Updated April 7, 2021 3:14 GMT)

At the time of this writing, AUDNZD’s rate is down -6 pips (-0.06%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDNZD has now gone down 8 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 1.08555, up 19 pips 0.17% from yesterday. Relative to other instruments in the Forex asset class, AUDNZD ranked 13th yesterday in terms of percentage price change. The price chart of AUDNZD below illustrates.

AUDNZD

AUDNZD Technical Analysis

Coming into today AUDNZD is now close to its 20, 50, 100 and 200 day averages, located at 1.0837, 1.0759, 1.0701 and 1.0737 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 20 day average, which is 18.1 pips away. Volatility for AUDNZD 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 30 day horizon; over that time period, price has been moving up. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 8 out of the past 14 days.