AUD/NZD 4 Hour Price Update
Updated May 25, 2020 05:08 PM GMT (01:08 PM EST)
AUD/NZD is up 6 pips (0.06%) since the previous 4 hours (opening the current 4 hour candle near 1.0731), marking the 2nd candle in a row it has gone up. Compared to its peers in the Forex, AUD/NZD gave its buyers a return that ranked 11th in terms of percentage change since the previous 4 hours.
AUD/NZD End of Day Recap
Updated 00:30 GMT (04:30 EST)
A moment of silence, please, for the end of AUD/NZD’s 4 day down streak; price ended yesterday up 5 pips (0.05%) to finish the day at a rate of 1.07174. Compared to its peers in the Forex, AUD/NZD gave its buyers a return that ranked 10th in terms of percentage change since yesterday. The price chart of AUD/NZD below illustrates.
AUD/NZD Technical Analysis
Coming into today 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. Or to simplify this another way, note that out of the past 10 days AUD/NZD’s price has gone down 5 them. 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
Of note is that traders in aggregate have opinions 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 tradingview.com that we thought you might enjoy.