AUDNZD Down 2 Pips On Hourly Chart; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated February 22, 2021 23:14 GMT)

At the moment, AUDNZD’s rate is down -2 pips (-0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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 and 10 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

AUDNZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDNZD entered today at 1.0779, up 18 pips (0.17%) from the day prior. Compared to its peers in the Forex, AUDNZD gave its buyers a return that ranked 19th in terms of percentage change since the day prior. The price chart of AUDNZD below illustrates.

AUDNZD

AUDNZD Technical Analysis

Notably, 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 54.4 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 11 out of the past 14 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for AUDNZD; just 0 sell signals and 1 buy signals. Bulls may note that this suggests a buy/sell ratio that is infinite. But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Here is a confirmation of the idea I published on 12th February 2021. The price is still in an uptrend towards the take profit at 1.08350. Take a minute of your time to take a look at the post. Thank you for your support💓