AUD/NZD Down 6 Pips On Hourly Chart, 2 Day Down Streak Ended; Sentiment Strongly Favors Sellers

Hourly Update

(Last Updated January 5, 2022 1:37 GMT)

At the moment, 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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)

AUDNZD entered today at 1.06257, up 25 pips (0.24%) from the day prior. Out of the 39 instruments in the Forex asset class, AUDNZD ended up ranking 16th for the day in terms of price change. Let’s take a look at price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

The first thing we should note is that AUDNZD is now close to its 20, 50, 100 and 200 day averages, located at 1.0584, 1.0484, 1.0458 and 1.0581 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 41.2 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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDNZD, with 0 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

https://www.tradingview.com/x/Bo4KsoaV/ Hello, Friends! AUD/NZD is trading In wayThat I predicted previously And now the pair is retestingA hidden bank’s levelSo I think a bearish move will follow! SELL! ✅LIKE AND COMMENT MY IDEAS✅