(Last Updated July 19, 2022 1:34 GMT)
Currently, AUDCAD’s rate is down -4 pips (-0.04%) from the hour prior. The hourly chart shows that AUDCAD has seen 3 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 down 3 pips (0.03%) since yesterday (opening today near 0.8844), marking the 2nd straight day a decrease has occurred. Out of the 39 instruments in the Forex asset class, AUDCAD ended up ranking 26th for the day in terms of price change. Here is a price chart of AUDCAD.
AUDCAD Technical Analysis
Coming into today the current price of AUDCAD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for AUDCAD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 8 out of the past 14 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.