AUDCAD Down 0 Pips in Last Hour, 2 Day Down Streak Ended; is Inching Close to 20 Day Average

Hourly Update

(Last Updated February 19, 2021 0:14 GMT)

At the moment, AUDCAD’s rate is down 0 pips (0%) from the hour prior. AUDCAD has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Of note is that the 100 hour changed directions on AUDCAD; it is now pointing down. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

AUDCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for AUDCAD, which started today off at 0.98484, up 15 pips 0.16% from yesterday. Compared to its peers in the Forex, AUDCAD gave its buyers a return that ranked 10th in terms of percentage change since yesterday. The price chart of AUDCAD below illustrates.

AUDCAD

AUDCAD Technical Analysis

Coming into today 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. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days AUDCAD’s price has gone up 6 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji and morning star patterns appearing here.