AUD/CAD Down 34 Pips in Last 4 Hours, Entered Today Up For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart

AUD/CAD 4 Hour Price Update

Updated March 25, 2020 01:38 PM GMT (09:38 AM EST)

The back and forth price flow continues for AUD/CAD, which started the current 4 hour candle off at 0.8645, down 34 pips 0.39% from the last 4 hour candle. Out of the 40 instruments in the Forex asset class, AUD/CAD ended up ranking 31st for the four-hour candle in terms of price change.

AUD/CAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/CAD is up 8 pips (0.09%) since the day prior (opening today near 0.8622), marking the 3rd day in a row an increase has occurred. Out of the 40 instruments in the Forex asset class, AUD/CAD ended up ranking 17th for the day in terms of price change. Below is a price chart of AUD/CAD.

AUD/CAD Technical Analysis

Notably, AUD/CAD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 6 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDCAD, with 9 buy signals on our radar and 15 sell signals. This imputes a buy/sell ratio of 0.6, which is bearish. As for the rationale, technical traders seem to be citing the appearance of divergence and trendline technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

– We never trade just because the price reaches the trading zone….This also means that not every idea is a valid trade….- Our analysis are trading ideas not trading signals for you.