AUDNZD Down 2 Pips Over Past Hour, 3 Day Down Streak Broken; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated May 3, 2021 2:14 GMT)

At the time of this writing, AUDNZD’s rate is down -2 pips (-0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 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 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)

A moment of silence, please, for the end of AUDNZD’s 3 day down streak; price ended the previous day up 34 pips (0.32%) to finish the day at a rate of 1.07648. Relative to other instruments in the Forex asset class, AUDNZD ranked 7th the previous day in terms of percentage price change. Here is a price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

Notably, AUDNZD crossed above its 100 and 200 day moving averages 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 200 day average, which is 14.8 pips away. It should be noted, though, the 200 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. For additional context, note that price has gone down 7 out of the past 10 days.