AUD/NZD Down 7 Pips in Last Hour, Breaks Above 50 Day Average; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated June 23, 2022 1:35 GMT)

Currently, AUDNZD’s rate is down -7 pips (-0.06%) 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 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDNZD. Given that we see downtrend 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 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 is up 6 pips (0.06%) since the day prior (opening today near 1.10132), marking the 2nd consecutive day an increase has occurred. Compared to its peers in the Forex, AUDNZD gave its buyers a return that ranked 16th in terms of percentage change since the day prior. Here is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

First things first: AUDNZD crossed above its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. Or to simplify this another way, note that out of the past 14 days AUDNZD’s price has gone down 8 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!