(Last Updated April 2, 2021 23:14 GMT)
At the moment, AUDNZD’s rate is down -2 pips (-0.02%) from the hour prior. This is the 2nd hour in a row AUDNZD has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 down 31 pips (0.28%) since the day prior (opening today near 1.08448), marking the 3rd straight day a decline has happened. Relative to other instruments in the Forex asset class, AUDNZD ranked 34th the day prior in terms of percentage price change. Below is a price chart of 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 24 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days AUDNZD’s price has gone up 18 them.