AUD/NZD Down 26 Pips in Last 4 Hours, Entered Today Up For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart

AUD/NZD 4 Hour Price Update

Updated June 22, 2020 01:10 PM GMT (09:10 AM EST)

AUD/NZD is down 26 pips (0.24%) since the previous 4 hours (opening the current 4 hour candle near 1.0649), marking the 2nd candle in a row a decline has happened. Relative to other instruments in the Forex asset class, AUD/NZD ranked 36th the previous 4 hours in terms of percentage price change.

AUD/NZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/NZD is up 1 pips (0.01%) since the day prior (opening today near 1.06645), marking the 2nd day in a row an upward move has occurred. Compared to its peers in the Forex, AUD/NZD gave its buyers a return that ranked 22nd in terms of percentage change since the day prior. Below is a price chart of AUD/NZD.

AUD/NZD Technical Analysis

Notably, AUD/NZD is now close to its 20, 50, 100 and 200 day averages, located at 1.0704, 1.0695, 1.0519 and 1.0499 respectively, and thus may be at a key juncture along those timeframes. Volatility for AUD/NZD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 14 and 30 day timeframes, where price is headed down. Or to simplify this another way, note that out of the past 14 days AUD/NZD’s price has gone down 8 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDNZD, with 0 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 0, which is quite bearish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on; below is a short snippet from it to give you a taste.

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