AUD/CAD Down 13 Pips On Hourly Chart, Entered Today Up For the 2nd Consecutive Day; Breaks Above 50 Day Average

Hourly Update

(Last Updated August 5, 2022 1:35 GMT)

At the moment, AUDCAD’s rate is down -13 pips (-0.14%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly 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.

AUDCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDCAD is up 38 pips (0.43%) since the day prior (opening today near 0.8961), marking the 2nd consecutive day it has gone up. Relative to other instruments in the Forex asset class, AUDCAD ranked 11th the day prior in terms of percentage price change. The price chart of AUDCAD below illustrates.

AUDCAD

AUDCAD Technical Analysis

Notably, AUDCAD crossed above its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe. Or to simplify this another way, note that out of the past 14 days AUDCAD’s price has gone up 7 them.