AUD/NZD Up 9 Pips On Hourly Chart, 3 Day Down Streak Snapped; is Inching Close to 20 and 50 Day Averages

Hourly Update

(Last Updated June 22, 2022 1:36 GMT)

Currently, AUDNZD’s rate is up 9 pips (0.08%) from the hour prior. This is the 2nd consecutive hour AUDNZD has seen its price head 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 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, which opened today priced near 1.1007, is up 28 pips 0.26% since yesterday, marking a reversal from the day prior — and the end of a 3 day negative run. Relative to other instruments in the Forex asset class, AUDNZD ranked 13th yesterday in terms of percentage price change. Below 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 and 100 day averages, located at 1.1046, 1.1008 and 1.0883 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 7 out of the past 10 days.