AUD/NZD Down 7 Pips Over Past Hour, Crosses 20 Day Moving Average; Price Base in Formation Over Past 14 Days

Hourly Update

(Last Updated August 5, 2022 1:36 GMT)

Currently, AUDNZD’s rate is down -7 pips (-0.07%) 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 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on AUDNZD. Given that we see downtrend on the 10 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 entered today at 1.1058, down 16 pips (0.14%) from the day prior. Compared to its peers in the Forex, AUDNZD gave its buyers a return that ranked 25th in terms of percentage change since the day prior. Below is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

Notably, AUDNZD crossed below its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 5 out of the past 10 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDNZD, with 9 buy signals on our radar and 1 sell signals. This imputes a buy/sell ratio of 9, which is very bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Why get subbed to me on Tradingview?-TOP author on TradingView-2000+ ideas published-15+ years experience in markets-Professional chart break downs-Supply/Demand Zones-TD9 counts / combo review-Key S/R levels-No junk on my charts-Frequent updates-Covering FX/crypto/US stocks-before/after analysis-24/7 uptime so constant updates🎁Please hit the like button and🎁Leave a comment to support our team! AUDNZD D4: XABCD / BUY/HOLD +200/+400 pips(SL/TP)(SWING)IMPORTANT NOTE: speculative setup. do your owndue dill. use STOP LOSS. don’t overleverage.Tagged as LONG as I’m expecting moreGAINS IN THIS MARKET. 🔸 Summary and potential trade setup::: AUDNZD 4days/candle chart review::: speculative XABCD in progress::: expecting more gains in this market::: REVERSAL ALREADY CONFIRMED POINT C::: point D/PRZ near 1500 +400 pips::: bulls seek to buy dips /market buy::: recommend to BUY AT MARKET flip LONG::: recommended strategy: / BUY NOW exit +400 pips::: swing trade setup will take time to hit TP::: lower risk strategy: buying DIPS/pullbacks::: SL 50 pips TP1 +200 pips TP2 +400 pips::: this is lower risk / recommend to BUY near market::: TP BULLS is 1500 (FINAL EXIT)::: SWING trade setup do not expect::: fast/miracle overnights gains here::: good luck traders🔸 Supply/Demand Zones::: N/A::: N/A🔸 Other noteworthy technicals/fundies::: TD9 /Combo update: N/A::: Sentiment short-term: BULLS/D/+400 pips::: Sentiment outlook mid-term: BULLS/D/PRZRISK DISCLAIMER:Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.Please consider carefully if such trading is appropriate for you.Past performance is not indicative of future results.Always limit your leverage and use tight stop loss.