AUD/NZD Up 25 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; 2 Day Up Streak Ended

AUD/NZD 4 Hour Price Update

Updated June 25, 2020 01:12 PM GMT (09:12 AM EST)

A moment of silence, please, for the end of AUD/NZD’s 6 four-hour candle down streak; price ended the last 4 hour candle up 25 pips (0.23%) to finish the four-hour candle at a rate of 1.0701. Out of the 37 instruments in the Forex asset class, AUD/NZD ended up ranking 4th for the four-hour candle in terms of price change.

AUD/NZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for AUD/NZD, which started today off at 1.07088, down 7 pips 0.06% from yesterday. Compared to its peers in the Forex, AUD/NZD gave its buyers a return that ranked 30th in terms of percentage change since yesterday. The price chart of AUD/NZD below illustrates.

AUD/NZD Technical Analysis

Notably, AUD/NZD is now close to its 20, 50, 100 and 200 day averages, located at 1.0687, 1.0697, 1.0531 and 1.0497 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 11.8 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. 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. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. For additional context, note that price has gone up 15 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji and pin bar patterns appearing here.