AUD/NZD Up 1 Pips On Hourly Chart, 2 Day Up Streak Ended; Nears 200 Day Moving Average

Hourly Update

(Last Updated December 30, 2021 1:38 GMT)

At the moment, AUDNZD’s rate is up 1 pips (0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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 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)

The back and forth price flow continues for AUDNZD, which started today off at 1.06125, down 13 pips 0.12% from the previous day. Relative to other instruments in the Forex asset class, AUDNZD ranked 32nd the previous day in terms of percentage price change. Below is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

Coming into today AUDNZD is now close to its 20, 50, 100 and 200 day averages, located at 1.0547, 1.0471, 1.0452 and 1.0586 respectively, and thus may be at a key juncture along those timeframes. 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 200 day average, which is 26.3 pips away. Volatility for AUDNZD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 16 out of the past 30 days.

The View From Around the Web

Not much commentary on AUDNZD that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Could be looking for a potential entry at 1.0625 with a 25 pip stoploss.Manually exiting my position if price closes on the 4H timeframe above 1.0633Look to move your stoploss to breakeven once price reaches 1.0520Trade Safe 🥂