AUD/NZD Down 6 Pips On 4 Hour Chart, 4 Day Down Streak Broken; Nears 20 Day Moving Average

AUD/NZD 4 Hour Price Update

Updated May 25, 2020 09:09 PM GMT (05:09 PM EST)

The back and forth price flow continues for AUD/NZD, which started the current 4 hour candle off at 1.0725, down 6 pips 0.06% from the previous 4 hours. Out of the 37 instruments in the Forex asset class, AUD/NZD ended up ranking 34th for the four-hour candle in terms of price change.

AUD/NZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 4 down days, AUD/NZD snaps its streak, rising 5 pips (0.05%) over the past day to close at an exchange rate of 1.07174. Relative to other instruments in the Forex asset class, AUD/NZD ranked 10th yesterday in terms of percentage price change. The price chart of AUD/NZD below illustrates.

AUD/NZD Technical Analysis

Notably, AUD/NZD is now close to its 20, 50 and 200 day averages, located at 1.0693, 1.0548 and 1.0501 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 24.1 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 15 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDNZD, with 9 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 1.8, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on that we thought you might enjoy.