AUD/NZD Up 17 Pips Over Past Hour, 2 Day Up Streak Ended; is Inching Close to 200 Day Average

Hourly Update

(Last Updated December 27, 2021 1:35 GMT)

At the time of this writing, AUDNZD’s rate is up 17 pips (0.16%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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)

The choppiness in the recent daily price action of AUDNZD continues; to start today, it came in at a price of 1.05925, down 19 pips (0.18%) since yesterday. Compared to its peers in the Forex, AUDNZD gave its buyers a return that ranked 28th in terms of percentage change since yesterday. The price chart of AUDNZD below illustrates.

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. 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 200 day average, which is 2.4 pips away. Volatility for AUDNZD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days AUDNZD’s price has gone up 9 them.