AUDNZD Down 3 Pips Over Past Hour, Moves Up For the 2nd Consecutive Day; in a Downtrend Over Past 14 Days – CFD Trading

Hourly Update

(Last Updated May 5, 2021 12:14 GMT)

At the moment, AUDNZD’s rate is down -5 pips (-0.05%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDNZD has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 and 200 hour moving averages have been crossed, with price now being below them. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 is up 14 pips (0.13%) since yesterday (opening today near 1.07785), marking the 2nd consecutive day it has gone up. Compared to its peers in the Forex, AUDNZD gave its buyers a return that ranked 19th in terms of percentage change since yesterday. Let’s take a look at price chart of AUDNZD.

AUDNZD

AUDNZD Technical Analysis

The first thing we should note is that AUDNZD is now close to its 20, 50, 100 and 200 day averages, located at 1.0797, 1.0795, 1.075 and 1.075 respectively, and thus may be at a key juncture along those timeframes. 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. The closest is the 50 day average, which is 16.3 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone down 6 out of the past 10 days. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!

Leave a Reply

Your email address will not be published. Required fields are marked *