(Last Updated October 9, 2020 2:14 GMT)
Currently, AUDNZD’s rate is down -11 pips (-0.1%) from the hour prior. This is the 2nd hour in a row AUDNZD has seen its price head down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
AUDNZD End of Day Recap
Updated 00:30 GMT (04:30 EST)
AUDNZD is up 45 pips (0.41%) since the previous day (opening today near 1.08897), marking the 2nd straight day it has gone up. Out of the 40 instruments in the Forex asset class, AUDNZD ended up ranking 6th for the day in terms of price change. The price chart of AUDNZD below illustrates.
AUDNZD Technical Analysis
Moving average crossovers are always interesting, so let’s start there: AUDNZD crossed above its 50 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 50 day average, which is 27.4 pips away. 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. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. Or to simplify this another way, note that out of the past 30 days AUDNZD’s price has gone down 17 them.