AUD/NZD Up 2 Pips On 4 Hour Chart, in a Downtrend Over Past 14 Days; is Inching Close to 20 Day Average
Relative to other instruments in the forex asset class, aud/nzd ranked 25th the day prior in terms of percentage price change.
AUDNZD
(Last Updated May 28, 2020)
Hello! This is the news page for AUDNZD. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
As for trends on AUDNZD, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 and 30 day timeframes. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
AUDNZD Moving Averages
The moving averages on AUDNZD indicate a trend that is clearly bullish. Moreover, it should also be noted that the 200 SMA just turned bullish today.
Below is a chart showing AUDNZD’s price with its moving averages.
As for correlation, As for assets in the Forex asset class AUDNZD has been correlated to over the past week, it has demonstrated the strongest correlation with AUDCAD. If we zoom out to a two week basis, though, NZDCAD is the asset most correlated to AUDNZD. On the flip side, the asset least correlated with AUDNZD over the past week has been AUDUSD, but over the past two weeks, the asset least correlated with AUDNZD has been GBPCHF. The chart below illustrates AUDNZD against its least correlated assets.
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AUD/NZD Down 22 Pips On 4 Hour Chart, in an Uptrend Over Past 90 Days; Eyes 20 Day Average
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.
AUD/NZD Up 10 Pips Over Past 4 Hours, Underperforms All Forex; Nears 20 Day Moving Average
It may be worth observing that aud/nzd was the worst performer of the 40 members in the forex asset class over the past day.
AUD/NZD Up 11 Pips On 4 Hour Chart, in an Uptrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart
We expect bullish trend to continue and to catch the next move to the upside now.
AUD/NZD Down 6 Pips On 4 Hour Chart, 4 Day Down Streak Broken; Nears 20 Day Moving Average
The closest is the 20 day average, which is 24.1 pips away.
AUD/NZD Down 8 Pips in Last 4 Hours, Entered Today Down For the 3rd Day In A Row; Eyes 20 Day Average
This imputes a buy/sell ratio of 0.73, which is bearish.
AUD/NZD Down 6 Pips Over Past 4 Hours, in an Uptrend Over Past 14 Days; Nears 20 Day Moving Average
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
AUD/NZD Up 20 Pips in Last 4 Hours, Moves Down For the 2nd Day In A Row; in an Uptrend Over Past 14 Days
With that being said, the rbnz policy stance is looking more dovish than the rba’s….
AUD/NZD Up 9 Pips Over Past 4 Hours, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
As for the rationale, technical traders seem to be citing the appearance of a divergence technical pattern.
AUD/NZD Down 28 Pips Over Past 4 Hours; in an Uptrend Over Past 14 Days
The closest is the 20 day average, which is 122.6 pips away.