AUDNZD Down 1 Pips in Last Hour, Price Base in Formation Over Past 90 Days; is Inching Close to 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated June 9, 2021 20:14 GMT)

At the moment, AUDNZD’s rate is down -1 pips (-0.01%) from the hour prior. The hourly chart shows that AUDNZD has seen 2 straight down 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 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 1.07561, up 20 pips (0.19%) from yesterday. Relative to other instruments in the Forex asset class, AUDNZD ranked 7th yesterday in terms of percentage price change. Here is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

The first thing we should note is that 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 100 day average, which is 2.8 pips away. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 10 days AUDNZD’s price has gone up 6 them.