AUD/NZD Up 6 Pips in Last 4 Hours, Makes Big Move Relative to Two Week Trend; Pin Bar Pattern Appearing on Chart

AUD/NZD 4 Hour Price Update

Updated June 04, 2020 01:11 AM GMT (09:11 PM EST)

The back and forth price flow continues for AUD/NZD, which started the current 4 hour candle off at 1.0775, up 6 pips 0.06% from the previous 4 hours. Compared to its peers in the Forex, AUD/NZD gave its buyers a return that ranked 7th in terms of percentage change since the previous 4 hours.

AUD/NZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/NZD entered today at 1.07781, up 4 pips (0.03%) from yesterday. Compared to its peers in the Forex, AUD/NZD gave its buyers a return that ranked 23rd in terms of percentage change since yesterday. Here is a price chart of AUD/NZD.

AUD/NZD Technical Analysis

The first thing we should note is that AUD/NZD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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 26 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days AUD/NZD’s price has gone up 16 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDNZD, with 5 buy signals on our radar and 29 sell signals. This imputes a buy/sell ratio of 0.17, which is quite bearish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on; below is a short snippet from it to give you a taste.

Hello, the trend on this pair is up but it is hard to resist to a triple bearish daily divergence….Theprice is rejected by 1.085 resistance after a nice rally….This is a good entry (1.077), a conservative one could be below the 8 MA.