AUDNZD Up 2 Pips On Hourly Chart, 7 Day Down Streak Broken; in a Downtrend Over Past 30 Days
It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe.
AUDNZD
(Last Updated October 21, 2020)
Welcome to the news page for AUDNZD (AUDNZD). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
A trend/countertrend situation exists on AUDNZD, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
AUDNZD Moving Averages
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 200 are bearish, implying a downward trend, save for a rally that occurred about 6 months ago.
Below is a chart showing AUDNZD’s price with its moving averages.
As for assets in the Forex asset class AUDNZD has been correlated to over the past week, it has been most correlated with AUDCAD. If we zoom out to a two week basis, though, the asset showing the strongest correlation to AUDNZD is AUDJPY. Alternatively, USDSEK has been the asset least correlated with AUDNZD — but over the past two weeks, the asset least correlated with AUDNZD has been NZDUSD. See the chart below to observe the recent price action in AUDNZD versus those of assets it hasn’t been well correlated with.
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The View From the Weekly Timeframe
At the moment, AUDNZD’s rate is down -0.0004 (-0.04%) from the week prior. Moreover, note that the weekly chart shows that AUDNZD has seen 2 straight down weeks. As for the trend on the weekly timeframe, we see the clearest trend on the 10 week timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on AUDNZD. Given that we see downtrend on the 10 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 20 week changed directions on AUDNZD; it is now pointing up. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. AUDNZD’s weekly price action over the past 52 weeks can be seen via the chart below.
AUDNZD: The Monthly View
Monthly trend: strongest on the 120 month timeframe.
AUDNZD Down 4 Pips Over Past Hour; 7 Day Down Streak Ended
The closest is the 100 day average, which is 70.5 pips away.
AUDNZD Up 5 Pips On Hourly Chart, Came Into Today Down For the 7th Straight Day; in a Downtrend Over Past 30 Days
Price action traders may also wish to note that we see a doji candlestick pattern on audnzd.
AUDNZD Down 6 Pips On Hourly Chart; Moves Down For the 6th Straight Day
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.
AUDNZD Down 6 Pips in Last Hour, Nears 20 and 100 Day Moving Averages; Pin Bar Pattern Appearing on Chart
Or to simplify this another way, note that out of the past 30 days audnzd’s price has gone down 18 them.
AUDNZD Up 3 Pips in Last Hour, Moves Down For the 4th Day In A Row; Pin Bar Pattern Appearing on Chart
This move is a reversal from the hour prior, which saw price move down.
AUDNZD Down 6 Pips On Hourly Chart, Moves Down For the 3rd Day In A Row; Crosses 20 and 100 Day Moving Averages
It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign.
AUDNZD Down 20 Pips On Hourly Chart, Moves Down For the 2nd Straight Day; Nears 20 and 50 Day Moving Averages
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
AUDNZD Down 2 Pips Over Past Hour, Breaks Below 50 Day Average; Sentiment Suggests Buyers in Charge
Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
AUDNZD Down 11 Pips in Last Hour, Entered Today Up For the 2nd Straight Day; Crosses 50 Day Moving Average
The closest is the 50 day average, which is 27.4 pips away.