AUDNZD Down 5 Pips On Hourly Chart, Moves Up For the 5th Consecutive Day; Price Base in Formation Over Past 90 Days

Hourly Update

(Last Updated February 11, 2021 1:15 GMT)

At the moment, AUDNZD’s rate is down -5 pips (-0.05%) 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. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

AUDNZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDNZD is up 21 pips (0.2%) since the previous day (opening today near 1.06882), marking the 5th consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, AUDNZD ranked 9th the previous day in terms of percentage price change. Below is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

First things first: AUDNZD crossed above its 100 day moving average yesterday. 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 10.4 pips away. Price action traders in particular will want to note that the 90 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 down 8 out of the past 14 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for AUDNZD; just 2 sell signals and 3 buy signals. This imputes a buy/sell ratio of 1.5, which is bullish. Here’s a piece we found on tradingview.com that we thought you might enjoy.