AUDNZD Down 6 Pips On Hourly Chart, 2 Day Up Streak Broken; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated February 25, 2021 0:15 GMT)

At the time of this writing, AUDNZD’s rate is down -6 pips (-0.05%) from the hour prior. AUDNZD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. 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 choppiness in the recent daily price action of AUDNZD continues; to start today, it came in at a price of 1.07757, down 27 pips (0.25%) since the day prior. Compared to its peers in the Forex, AUDNZD gave its buyers a return that ranked 30th in terms of percentage change since the day prior. Below is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

Notably, AUDNZD is now close to its 20, 50, 100 and 200 day averages, located at 1.0703, 1.0709, 1.0674 and 1.0725 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 200 day average, which is 51 pips away. It should be noted, though, the 100 and 200 day simple moving averages turned downwards, which may be a bearish sign. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Also of note is that on a 30 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 11 out of the past 14 days.