AUDNZD Up 6 Pips Over Past Hour; Moves Down For the 3rd Straight Day

Hourly Update

(Last Updated September 10, 2021 2:13 GMT)

At the moment, AUDNZD’s rate is up 6 pips (0.06%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as AUDNZD has now gone up 4 of the past 5 hours. 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 down 5 pips (0.04%) since yesterday (opening today near 1.03673), marking the 3rd straight day a decrease has occurred. Out of the 39 instruments in the Forex asset class, AUDNZD ended up ranking 14th 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 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 20 out of the past 30 days.