(Last Updated June 2, 2021 2:14 GMT)
At the time of this writing, AUDNZD’s rate is down 0 pips (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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 pin bar 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)
The choppiness in the recent daily price action of AUDNZD continues; to start today, it came in at a price of 1.06901, up 50 pips (0.47%) since the previous day. Out of the 39 instruments in the Forex asset class, AUDNZD ended up ranking 2nd for the day in terms of price change. Let’s take a look at price chart of 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 20 day average, which is 45.5 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 14 days AUDNZD’s price has gone down 9 them.
The View From Around the Web
Of note is that traders in aggregate have opinions on AUDNZD, with 1 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0.25, which is bearish. Here’s a piece we found on tradingview.com that we thought you might enjoy.