(Last Updated January 14, 2021 2:15 GMT)
Currently, AUDNZD’s rate is down -1 pips (-0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on AUDNZD. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 10 pips (0.09%) since the day prior (opening today near 1.07678), marking the 5th day in a row an upward move has occurred. Out of the 40 instruments in the Forex asset class, AUDNZD ended up ranking 15th for the day in terms of price change. The price chart of AUDNZD below illustrates.
AUDNZD Technical Analysis
Notably, AUDNZD is now close to its 20, 50, 100 and 200 day averages, located at 1.0687, 1.0619, 1.0708 and 1.0703 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 100 day average, which is 59.9 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. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 20 out of the past 30 days. And for candlestick traders, a special treat: there is a doji 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 4 buy signals on our radar and 2 sell signals. This imputes a buy/sell ratio of 2, which is bullish. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.
Treasury yields fell after strong auction demand on the 30-year bond as Wall Street moved higher. Meanwhile, AUD/NZD may be poised for further upside with bullish technical signals on the horizon.