(Last Updated June 3, 2021 4:14 GMT)
At the time of this writing, AUDNZD’s rate is up 3 pips (0.03%) from the hour prior. This is the 2nd straight hour AUDNZD has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 up 17 pips (0.16%) since the previous day (opening today near 1.07067), marking the 2nd consecutive day an increase has occurred. Relative to other instruments in the Forex asset class, AUDNZD ranked 11th the previous day in terms of percentage price change. The price chart of AUDNZD below illustrates.
AUDNZD Technical Analysis
Coming into today AUDNZD is now close to its 20, 50, 100 and 200 day averages, located at 1.0734, 1.0782, 1.0761 and 1.0737 respectively, and thus may be at a key juncture along those timeframes. 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 27.5 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. For additional context, note that price has gone down 8 out of the past 14 days. Also, candlestick traders! Note we see doji pattern appearing here as well.