AUD/NZD Up 2 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; 3 Day Up Streak Broken

Hourly Update

(Last Updated January 14, 2022 1:38 GMT)

At the moment, AUDNZD’s rate is up 2 pips (0.02%) from the hour prior. The hourly chart shows that AUDNZD has seen 3 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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)

A moment of silence, please, for the end of AUDNZD’s 3 day up streak; price ended the day prior down 30 pips (-0.28%) to finish the day at a rate of 1.06081. Relative to other instruments in the Forex asset class, AUDNZD ranked 27th the day prior in terms of percentage price change. Below is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: AUDNZD crossed below its 20 day moving average yesterday. 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 1 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 90 day horizon; over that time period, price has been moving up. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 14 days AUDNZD’s price has gone up 9 them.