AUDNZD Down 6 Pips in Last Hour, 3 Day Down Streak Snapped; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated November 23, 2020 2:14 GMT)

At the time of this writing, AUDNZD’s rate is down -6 pips (-0.06%) from the hour prior. This is the 2nd straight hour AUDNZD has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being below it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

AUDNZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDNZD, which opened today priced near 1.05343, is down 0 pips 0% since the day prior, marking day in a row — and the end of a 3 day negative run. Out of the 40 instruments in the Forex asset class, AUDNZD ended up ranking 23rd for the day in terms of price change. The price chart of AUDNZD below illustrates.

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 87.6 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 down. Or to simplify this another way, note that out of the past 10 days AUDNZD’s price has gone down 6 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.