AUDNZD Up 7 Pips On Hourly Chart; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated June 1, 2021 2:14 GMT)

At the time of this writing, AUDNZD’s rate is up 7 pips (0.06%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as AUDNZD has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDNZD. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 20 hourly candle timeframe, so the meaning of the candles may require further exploration. Most noteworthy in the world of moving averages on the hourly chart is that the 100 and 20 hour moving averages have been crossed, with price now being above them. 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)

The back and forth price flow continues for AUDNZD, which started today off at 1.06402, down 1 pips 0.01% from the day prior. Compared to its peers in the Forex, AUDNZD gave its buyers a return that ranked 22nd in terms of percentage change since the day prior. Below is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

Notably, AUDNZD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 200 day average, which is 99.4 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days AUDNZD’s price has gone down 7 them.