AUD/NZD Down 0 Pips On 4 Hour Chart, Eyes 20 and 50 Day Averages; Pin Bar Pattern Appearing on Chart

AUD/NZD 4 Hour Price Update

Updated June 30, 2020 09:07 PM GMT (05:07 PM EST)

AUD/NZD entered the current 4 hour candle at 1.0693, down 0 pips (0%) from the previous 4 hours. Relative to other instruments in the Forex asset class, AUD/NZD ranked 21st the previous 4 hours in terms of percentage price change.

AUD/NZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/NZD entered today at 1.0692, up 7 pips (0.07%) from yesterday. Out of the 40 instruments in the Forex asset class, AUD/NZD ended up ranking 17th for the day in terms of price change. The price chart of AUD/NZD below illustrates.

AUD/NZD Technical Analysis

The first thing we should note is that AUD/NZD is now close to its 20, 50, 100 and 200 day averages, located at 1.0678, 1.0702, 1.0539 and 1.0494 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 10.3 pips away. Volatility for AUD/NZD 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 90 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 30 day timeframe. For additional context, note that price has gone up 7 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar 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 8 buy signals on our radar and 22 sell signals. This imputes a buy/sell ratio of 0.36, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

A nice rising flag pattern after a down trend. Reached a zone and the downtrend, rejecting both and breaking the support of the fag. Await retest, then rejection for a short down to the next zone.