(Last Updated January 18, 2021)
Hello! This is the news page for AUDNZD. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| New Zealand NZIER Capacity Utilization | Q4 2020 | New Zealand Dollar | NZD | 2021-01-18 | 21:00 GMT | ||
| New Zealand NZIER Business Confidence | Q4 2020 | New Zealand Dollar | NZD | 2021-01-18 | 21:00 GMT | ||
| New Zealand Electronic Retail Card Spending YoY | Dec 2020 | New Zealand Dollar | NZD | 2021-01-18 | 21:45 GMT | ||
| New Zealand Electronic Retail Card Spending MoM | Dec 2020 | New Zealand Dollar | NZD | 2021-01-18 | 21:45 GMT | ||
| Australia HIA New Home Sales MoM | Dec 2020 | Australian Dollar | AUD | 2021-01-19 | 00:00 GMT |
A trend/countertrend situation exists on AUDNZD, in which an uptrend exists on shorter timeframes but a downtrend appears on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.
AUDNZD’s moving averages tell a multi-facted story about its trend. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 100 are bullish, implying a upward trend, save for a drop that occurred about 3 months ago.
Below is a chart showing AUDNZD’s price with its moving averages.
Regarding AUDNZD’s correlations over the past 7 days, it has been most correlated with GBPNZD. Over the past 14 days, however, EURCAD is the asset most correlated to AUDNZD. Alternatively, the asset least correlated with AUDNZD over the past week has been USDCAD, but if we observe the prior two weeks, the asset least correlated with AUDNZD has been GBPCAD. See the chart below to observe the recent price action in AUDNZD versus those of assets it hasn’t been well correlated with.
.
Currently, AUDNZD’s rate is up 70 pips (0.65%) from the week prior. AUDNZD has seen its price go up 4 out of the past 5 weeks, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 10 week timeframe. Looking further out, the moving averages on the weekly 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. The weekly chart below shows AUDNZD’s price action over the past year.
Monthly trend: strongest on the 120 month timeframe.
Compared to its peers in the forex, audnzd gave its buyers a return that ranked 32nd in terms of percentage change since the day prior.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.
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.
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.
This is a reversal of the price action on the previous hour, in which price moved up.
The retracement was fairly sharp which could potentially be an indication that the overall market is ready to shift.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
For additional context, note that price has gone up 17 out of the past 30 days.