AUDNZD Down 1 Pips in Last Hour, 4 Day Down Streak Snapped; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated September 15, 2021 1:13 GMT)

At the time of this writing, AUDNZD’s rate is down -1 pips (-0.01%) from the hour prior. AUDNZD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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)

After 4 down days, AUDNZD snaps its streak, rising 16 pips (0.15%) over the past day to close at an exchange rate of 1.0354. Relative to other instruments in the Forex asset class, AUDNZD ranked 11th yesterday in terms of percentage price change. Here is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

The first thing we should note is that 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. Also, candlestick traders! Note we see pin bar pattern appearing here as well.