AUDNZD Up 7 Pips Over Past Hour, Moves Up For the 2nd Consecutive Day; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated October 6, 2021 10:13 GMT)

At the moment, AUDNZD’s rate is up 7 pips (0.07%) from the hour prior. AUDNZD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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)

AUDNZD is up 5 pips (0.04%) since the day prior (opening today near 1.04767), marking the 2nd consecutive day an upward move has occurred. Out of the 39 instruments in the Forex asset class, AUDNZD ended up ranking 23rd for the day in terms of price change. Let’s take a look at price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

Coming into today the current price of AUDNZD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 8 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!