AUDNZD Down 6 Pips On Hourly Chart; Moves Down For the 6th Straight Day

Hourly Update

(Last Updated October 19, 2020 10:14 GMT)

Currently, AUDNZD’s rate is down -6 pips (-0.06%) from the hour prior. The hourly chart shows that AUDNZD has seen 3 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

AUDNZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDNZD is down 38 pips (0.35%) since the day prior (opening today near 1.07103), marking the 6th straight day a decline has happened. Out of the 40 instruments in the Forex asset class, AUDNZD ended up ranking 37th for the day in terms of price change. Here is a 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 moving averages, which may act as price barrier for the asset. 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 100 day average, which is 68.4 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 14 days AUDNZD’s price has gone down 9 them.