(Last Updated February 15, 2021 23:13 GMT)
At the time of this writing, AUDCAD’s rate is down -1 pips (-0.01%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDCAD has now gone down 12 of the past 14 hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on AUDCAD. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 100 hour changed directions on AUDCAD; it is now pointing up. 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.
AUDCAD End of Day Recap
Updated 00:30 GMT (04:30 EST)
AUDCAD is up 2 pips (0.02%) since the previous day (opening today near 0.98463), marking the 2nd consecutive day an increase has occurred. Compared to its peers in the Forex, AUDCAD gave its buyers a return that ranked 23rd in terms of percentage change since the previous day. Let’s take a look at price chart of AUDCAD.
AUDCAD Technical Analysis
Notably, the current price of AUDCAD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days AUDCAD’s price has gone up 9 them.