AUDNZD Up 4 Pips Over Past Hour, Moves Up For the 3rd Day In A Row; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated November 15, 2021 18:13 GMT)

At the moment, AUDNZD’s rate is up 4 pips (0.04%) from the hour prior. AUDNZD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDNZD. Given that we see an uptrend on the 20 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 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 24 pips (0.23%) since yesterday (opening today near 1.0405), marking the 3rd day in a row an upward move has occurred. Out of the 39 instruments in the Forex asset class, AUDNZD ended up ranking 10th for the day in terms of price change. Here is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

The first thing we should note is that 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 50 day average, which is 22.1 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days AUDNZD’s price has gone down 7 them.