(Last Updated April 30, 2021 4:13 GMT)
At the time of this writing, AUDCAD’s rate is down -3 pips (-0.03%) from the hour prior. The hourly chart shows that AUDCAD has seen 3 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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 51 pips (0.53%) since the previous day (opening today near 0.95467), marking the 3rd straight day a decline has happened. On a relative basis, AUDCAD was the worst performer out of all 39 of the assets in the Forex asset class. Below is a price chart of AUDCAD.
AUDCAD Technical Analysis
Notably, AUDCAD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 74.9 pips away. It should be noted, though, the 20 and 200 day simple moving averages turned downwards, which may be a bearish sign. 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 down 6 out of the past 10 days.