(Last Updated May 4, 2021 2:14 GMT)
At the moment, AUDNZD’s rate is up 1 pips (0.01%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as AUDNZD has now gone up 4 of the past 5 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 20, 50, 100 and 200 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)
AUDNZD is up 14 pips (0.13%) since the day prior (opening today near 1.07785), marking the 2nd consecutive day it has gone up. Out of the 39 instruments in the Forex asset class, AUDNZD ended up ranking 19th 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 1.0797, 1.0795, 1.075 and 1.075 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 50 day average, which is 16.3 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. For additional context, note that price has gone down 9 out of the past 14 days. Also, candlestick traders! Note we see doji pattern appearing here as well.