AUD/NZD Up 5 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; in an Uptrend Over Past 90 Days

AUD/NZD 4 Hour Price Update

Updated June 24, 2020 01:09 PM GMT (09:09 AM EST)

AUD/NZD is up 5 pips (0.05%) since the previous 4 hours (opening the current 4 hour candle near 1.0745), marking the 4th candle in a row it has gone up. Compared to its peers in the Forex, AUD/NZD gave its buyers a return that ranked 13th 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 is up 3 pips (0.03%) since the previous day (opening today near 1.06763), marking the 2nd day in a row an increase has occurred. Compared to its peers in the Forex, AUD/NZD gave its buyers a return that ranked 17th in terms of percentage change since the previous day. Let’s take a look at price chart of AUD/NZD.

AUD/NZD Technical Analysis

Notably, AUD/NZD is now close to its 20, 50, 100 and 200 day averages, located at 1.0691, 1.0696, 1.0527 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 20 day average, which is 14.4 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. Volatility for AUD/NZD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 14 days AUD/NZD’s price has gone up 7 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDNZD, with 2 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 0.4, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Sell to 1.063 or hold for tp2 at 1.058