AUDNZD Down 9 Pips in Last Hour, Eyes 200 Day Average; Doji Pattern Appearing on Chart
This is a reversal of the price action on the previous hour, in which price moved up.
(Last Updated February 24, 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 |
---|---|---|---|---|---|---|---|
Australia Wage Price Index YoY | Q4 2020 | Australian Dollar | AUD | 2021-02-24 | 00:30 GMT | 1.1% | 1.4% |
Australia Wage Price Index QoQ | Q4 2020 | Australian Dollar | AUD | 2021-02-24 | 00:30 GMT | 0.3% | 0.6% |
Australia Construction Work Done QoQ | Q4 2020 | Australian Dollar | AUD | 2021-02-24 | 00:30 GMT | 1% | -0.9% |
New Zealand Interest Rate Decision | 2021 | New Zealand Dollar | NZD | 2021-02-24 | 01:00 GMT | 0.25% | 0.25% |
New Zealand RBNZ Press Conference | NA | New Zealand Dollar | NZD | 2021-02-24 | 02:00 GMT |
If we observe the 90 and 14 day timeframes, we see an uptrend in place for AUDNZD.
Nuances in the trend on AUDNZD can be understood by observing the behavior of its moving averages. The 20 and 50 day averages are pointing upwards, suggesting a bullish trend, in contrast to the downward-facing 100 and 200 day averages that imply a bearish trend. Ultimately, this suggests a bullish trend on shorter timeframes, compared to a bearish trend when observing more than 3 months of data. Moreover, today we saw the 100 and 200 moving average turn bearish.
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 GBPAUD. If we zoom out to a two week basis, though, AUDJPY is the asset most correlated to AUDNZD. On the flip side, GBPJPY has been the asset least correlated with AUDNZD — but if we observe the prior two weeks, NZDCAD has been the asset least correlated with AUDNZD. The chart below illustrates AUDNZD against its least correlated assets.
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Currently, AUDNZD’s rate is down -3 pips (-0.03%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 5, 10 and 20 week timeframes. 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. AUDNZD’s weekly price action over the past 52 weeks can be seen via the chart below.
Strongest trend on the 120 month timeframe.
This is a reversal of the price action on the previous hour, in which price moved up.
The closest is the 200 day average, which is 27.8 pips away.
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.
Relative to other instruments in the forex asset class, audnzd ranked 9th the previous day in terms of percentage price change.
Price action traders may also wish to note that we see a doji candlestick pattern on audnzd.
Of note is that the 200 hour changed directions on audnzd; it is now pointing down.
Or to simplify this another way, note that out of the past 14 days audnzd’s price has gone down 9 them.
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
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.