(Last Updated February 16, 2021 23:14 GMT)
At the time of this writing, AUDNZD’s rate is down -9 pips (-0.09%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend 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 20 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)
AUDNZD is up 13 pips (0.12%) since the previous day (opening today near 1.07634), marking the 9th day in a row an increase has occurred. Relative to other instruments in the Forex asset class, AUDNZD ranked 18th the previous day in terms of percentage price change. The price chart of AUDNZD below illustrates.
AUDNZD Technical Analysis
The first thing we should note is that 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 40.8 pips away. For additional context, note that price has gone up 9 out of the past 10 days. Also, candlestick traders! Note we see doji pattern appearing here as well.