(Last Updated May 6, 2021 3:14 GMT)
At the time of this writing, AUDNZD’s rate is down -2 pips (-0.02%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDNZD has now gone down 8 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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 down 32 pips (0.3%) since the previous day (opening today near 1.07363), marking the 2nd straight day a decline has happened. Compared to its peers in the Forex, AUDNZD gave its buyers a return that ranked 33rd in terms of percentage change since the previous day. Here is a price chart of AUDNZD.
AUDNZD Technical Analysis
First things first: AUDNZD crossed below its 100 and 200 day moving averages yesterday. 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 14.6 pips away. It should be noted, though, the 50 day simple moving average turned upwards, which may be a bullish sign. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone down 9 out of the past 14 days.