AUD/NZD Up 4 Pips On Hourly Chart, Moves Down For the 2nd Consecutive Day; is Inching Close to 20 and 100 Day Averages

Hourly Update

(Last Updated October 5, 2020 16:21 GMT)

Currently, AUDNZD’s rate is up 0.0004 (0.04%) 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. Of note is that the 200 hour changed directions on AUDNZD; it is now pointing up. 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 13 pips (0.12%) since the day prior (opening today near 1.07838), marking the 2nd consecutive day a decrease has occurred. Out of the 40 instruments in the Forex asset class, AUDNZD ended up ranking 23rd for the day in terms of price change. Here 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 100 day average, which is 12 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 30 days AUDNZD’s price has gone down 17 them.