AUDNZD Up 1 Pips in Last Hour; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated July 23, 2021 2:13 GMT)

At the time of this writing, AUDNZD’s rate is up 1 pips (0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 downtrend on the 20 and 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 entered today at 1.05734, up 11 pips (0.1%) from the previous day. Out of the 39 instruments in the Forex asset class, AUDNZD ended up ranking 17th for the day in terms of price change. Here is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

The first thing we should note is that AUDNZD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 93 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days AUDNZD’s price has gone down 18 them.