AUDNZD Down 3 Pips On Hourly Chart, 9 Day Up Streak Broken; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated February 17, 2021 23:14 GMT)

Currently, AUDNZD’s rate is down -3 pips (-0.03%) from the hour prior. AUDNZD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. 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 doji 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, which opened today priced near 1.07638, is down 0 pips 0% since the day prior, marking day in a row — and the end of a 9 day positive run. Relative to other instruments in the Forex asset class, AUDNZD ranked 26th the day prior in terms of percentage price change. Below is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

Notably, 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 200 day average, which is 40.5 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days AUDNZD’s price has gone up 10 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.