AUDNZD Down 13 Pips in Last Hour, Moves Up For the 7th Day In A Row; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated February 12, 2021 17:16 GMT)

At the time of this writing, AUDNZD’s rate is down -13 pips (-0.12%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as AUDNZD has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a doji 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 15 pips (0.14%) since yesterday (opening today near 1.07182), marking the 7th day in a row an increase has occurred. Out of the 39 instruments in the Forex asset class, AUDNZD ended up ranking 16th for the day in terms of price change. Here is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

Notably, AUDNZD crossed above its 20 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 3.4 pips away. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 14 days AUDNZD’s price has gone up 8 them. Also, candlestick traders! Note we see doji pattern appearing here as well.