AUD/NZD Up 41 Pips On 4 Hour Chart, Came Into Today Up For the 2nd Day In A Row; in a Downtrend Over Past 14 Days

AUD/NZD 4 Hour Price Update

Updated March 24, 2020 03:15 AM GMT (11:15 PM EST)

AUD/NZD is up 41 pips (0.4%) since the last 4 hour candle (opening the current 4 hour candle near 1.0232), marking the 2nd candle in a row an upward move has occurred. Compared to its peers in the Forex, AUD/NZD gave its buyers a return that ranked 14th in terms of percentage change since the last 4 hour candle.

AUD/NZD Daily New York Session Recap

Updated 21:00 GMT (17:00 EST)

AUD/NZD is up 28 pips (0.27%) since yesterday’s New York session (opening today’s post-New York session near 1.01666), marking the 2nd day in a row an upward move has occurred. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 6.84% from the day prior, but up 117.91% from the same day the week before. Relative to other instruments in the Forex asset class, AUD/NZD ranked 18th yesterday’s New York session in terms of percentage price change. Let’s take a look at price chart of AUD/NZD.

AUD/NZD Technical Analysis

Coming into today the current price of AUD/NZD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 10 out of the past 14 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDNZD, with 8 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 1.33, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

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