AUDNZD Down 20 Pips On Hourly Chart, Moves Down For the 2nd Straight Day; Nears 20 and 50 Day Moving Averages

Hourly Update

(Last Updated October 13, 2020 2:14 GMT)

At the time of this writing, AUDNZD’s rate is down -20 pips (-0.18%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDNZD has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 200 hour moving average, resulting in them with price now being below it. 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 7 pips (0.06%) since the previous day (opening today near 1.0843), marking the 2nd straight day a decline has happened. Compared to its peers in the Forex, AUDNZD gave its buyers a return that ranked 21st in terms of percentage change since the previous day. The price chart of AUDNZD below illustrates.

AUDNZD

AUDNZD Technical Analysis

Coming into today 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 50 day average, which is 22.3 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 14 days AUDNZD’s price has gone down 8 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.