AUDCAD Up 2 Pips Over Past Hour, Entered Today Down For the 2nd Day In A Row; Crosses 20 and 200 Day Moving Averages

Hourly Update

(Last Updated April 29, 2021 2:13 GMT)

At the time of this writing, AUDCAD’s rate is up 2 pips (0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning above it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

AUDCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDCAD is down 40 pips (0.41%) since yesterday (opening today near 0.95975), marking the 2nd day in a row a decline has happened. Compared to its peers in the Forex, AUDCAD gave its buyers a return that ranked 28th in terms of percentage change since yesterday. Here is a price chart of AUDCAD.

AUDCAD

AUDCAD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: AUDCAD crossed below its 20 and 200 day moving averages yesterday. 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 200 day average, which is 24.4 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 5 out of the past 10 days.