AUDNZD Down 0 Pips Over Past Hour, Entered Today Up For the 8th Day In A Row; Price Base in Formation Over Past 90 Days

Hourly Update

(Last Updated February 15, 2021 23:14 GMT)

At the moment, AUDNZD’s rate is down 0 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on AUDNZD. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

AUDNZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDNZD is up 32 pips (0.3%) since the previous day (opening today near 1.075), marking the 8th day in a row an increase has occurred. Compared to its peers in the Forex, AUDNZD gave its buyers a return that ranked 7th in terms of percentage change since the previous day. Below is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: AUDNZD crossed above its 200 day moving average yesterday. 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 27.8 pips away. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 10 days AUDNZD’s price has gone up 9 them.