(Last Updated October 22, 2020 9:15 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. 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 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
AUDNZD End of Day Recap
Updated 00:30 GMT (04:30 EST)
After 7 down days, AUDNZD snaps its streak, rising 14 pips (0.13%) over the past day to close at an exchange rate of 1.0706. Relative to other instruments in the Forex asset class, AUDNZD ranked 17th yesterday in terms of percentage price change. Let’s take a look at price chart of AUDNZD.
AUDNZD Technical Analysis
Notably, AUDNZD is now close to its 20, 50, 100 and 200 day averages, located at 1.0783, 1.0853, 1.0776 and 1.062 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 100 day average, which is 70.5 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 20 out of the past 30 days.