AUD/NZD Up 1 Pips in Last Hour, Came Into Today Up For the 2nd Consecutive Day; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated June 8, 2022 1:36 GMT)

Currently, AUDNZD’s rate is up 1 pips (0.01%) from the hour prior. This is the 2nd hour in a row AUDNZD has seen its price head up. 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 is up 59 pips (0.53%) since the previous day (opening today near 1.11411), marking the 2nd consecutive day an upward move has occurred. Out of the 39 instruments in the Forex asset class, AUDNZD ended up ranking 13th for the day in terms of price change. Here is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

Notably, AUDNZD is now close to its 20 and 50 day averages, located at 1.1027 and 1.0966 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 20 out of the past 30 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for AUDNZD; just 0 sell signals and 1 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s take that with a grain of salt. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Expecting upside moves on the AUD in the coming half-hour off the back of strong rate hikes expected out of Australia. Monitoring current position for a break of resistance, signaling a strong rally to indicate TP-1 level. I will update this post as this continues to play out.