AUDNZD Down 4 Pips On Hourly Chart, in a Downtrend Over Past 14 Days; is Inching Close to 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated April 27, 2021 2:14 GMT)

At the moment, AUDNZD’s rate is down -4 pips (-0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 1.07848, up 27 pips 0.25% from the day prior. Out of the 39 instruments in the Forex asset class, AUDNZD ended up ranking 13th for the day in terms of price change. The price chart of AUDNZD below illustrates.

AUDNZD

AUDNZD Technical Analysis

Coming into today AUDNZD is now close to its 20, 50, 100 and 200 day averages, located at 1.0822, 1.0797, 1.0741 and 1.0749 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 50 day average, which is 12 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 30 days AUDNZD’s price has gone up 15 them.