AUD/CAD Up 13 Pips On 4 Hour Chart, in an Uptrend Over Past 90 Days; is Inching Close to 20 Day Average

AUD/CAD 4 Hour Price Update

Updated June 29, 2020 09:09 PM GMT (05:09 PM EST)

The back and forth price flow continues for AUD/CAD, which started the current 4 hour candle off at 0.9389, up 13 pips 0.14% from the last 4 hour candle. Relative to other instruments in the Forex asset class, AUD/CAD ranked 6th the last 4 hour candle in terms of percentage price change.

AUD/CAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of AUD/CAD continues; to start today, it came in at a price of 0.93934, up 4 pips (0.04%) since the day prior. Out of the 40 instruments in the Forex asset class, AUD/CAD ended up ranking 13th for the day in terms of price change. Let’s take a look at price chart of AUD/CAD.

AUD/CAD Technical Analysis

Coming into today AUD/CAD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Volatility for AUD/CAD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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 10 days AUD/CAD’s price has gone up 5 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!