AUD/NZD Up 2 Pips Over Past Hour, Entered Today Up For the 2nd Straight Day; Nears 20 and 200 Day Moving Averages

Hourly Update

(Last Updated January 12, 2022 1:36 GMT)

At the time of this writing, AUDNZD’s rate is up 2 pips (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 50 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 10 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 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)

AUDNZD is up 15 pips (0.14%) since the previous day (opening today near 1.0626), marking the 2nd straight day an upward move has occurred. Out of the 39 instruments in the Forex asset class, AUDNZD ended up ranking 15th for the day in terms of price change. Let’s take a look at price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

The first thing we should note is that the current price of AUDNZD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 22.3 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 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 6 out of the past 10 days.