(Last Updated October 12, 2020 2:14 GMT)
Currently, AUDNZD’s rate is down -2 pips (-0.02%) from the hour prior. AUDNZD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on AUDNZD. Given that we see downtrend 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 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 back and forth price flow continues for AUDNZD, which started today off at 1.08498, down 40 pips 0.37% from the day prior. Compared to its peers in the Forex, AUDNZD gave its buyers a return that ranked 25th in terms of percentage change since the day prior. Let’s take a look at price chart of AUDNZD.
AUDNZD Technical Analysis
Moving average crossovers are always interesting, so let’s start there: AUDNZD crossed below its 50 day moving average 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 50 day average, which is 14.1 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. Or to simplify this another way, note that out of the past 14 days AUDNZD’s price has gone down 8 them.