AUD/NZD Up 3 Pips Over Past Hour, 2 Day Up Streak Snapped; Evening Star Pattern Appearing on Chart

Hourly Update

(Last Updated May 13, 2022 1:35 GMT)

At the time of this writing, AUDNZD’s rate is up 3 pips (0.02%) from the hour prior. The hourly chart shows that AUDNZD has seen 2 straight up hours. 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 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)

The choppiness in the recent daily price action of AUDNZD continues; to start today, it came in at a price of 1.09962, down 32 pips (0.29%) since yesterday. Relative to other instruments in the Forex asset class, AUDNZD ranked 19th yesterday in terms of percentage price change. Let’s take a look at price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

Coming into today AUDNZD is now close to its 20, 50 and 100 day averages, located at 1.0968, 1.0858 and 1.0771 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 16 out of the past 30 days. And for candlestick traders, a special treat: there is a evening star pattern showing up on the charts as well. Rejoice!