AUDNZD Down 1 Pips in Last Hour, in an Uptrend Over Past 30 Days; Nears 20 Day Moving Average

Hourly Update

(Last Updated April 6, 2021 2:14 GMT)

At the moment, AUDNZD’s rate is down -1 pips (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend 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 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 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)

The choppiness in the recent daily price action of AUDNZD continues; to start today, it came in at a price of 1.08367, down 9 pips (0.08%) since the day prior. Out of the 39 instruments in the Forex asset class, AUDNZD ended up ranking 25th for the day in terms of price change. Below is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

Notably, the current price of AUDNZD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 4.9 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days AUDNZD’s price has gone up 8 them.