AUD/NZD Up 13 Pips On Hourly Chart, 3 Day Down Streak Snapped; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated November 23, 2021 1:36 GMT)

At the time of this writing, AUDNZD’s rate is up 13 pips (0.13%) from the hour prior. The hourly chart shows that AUDNZD has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDNZD. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)

A moment of silence, please, for the end of AUDNZD’s 3 day down streak; price ended the previous day up 98 pips (0.96%) to finish the day at a rate of 1.03934. Out of the 39 instruments in the Forex asset class, AUDNZD ended up ranking 3rd for the day in terms of price change. Here is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

The first thing we should note is that AUDNZD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days AUDNZD’s price has gone down 17 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!