AUDNZD Up 8 Pips Over Past Hour, 5 Day Down Streak Snapped; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated May 31, 2021 2:14 GMT)

At the moment, AUDNZD’s rate is up 8 pips (0.07%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)

After 5 down days, AUDNZD snaps its streak, rising 15 pips (0.15%) over the past day to close at an exchange rate of 1.06409. Compared to its peers in the Forex, AUDNZD gave its buyers a return that ranked 13th in terms of percentage change since the day prior. The price chart of AUDNZD below illustrates.

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 200 day average, which is 100.5 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 17 out of the past 30 days.