AUD/CAD Down 5 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; in an Uptrend Over Past 30 Days

AUD/CAD 4 Hour Price Update

Updated June 18, 2020 09:08 AM GMT (05:08 AM EST)

AUD/CAD is down 5 pips (0.05%) since the previous 4 hours (opening the current 4 hour candle near 0.9316), marking the 4th candle in a row a decline has happened. Relative to other instruments in the Forex asset class, AUD/CAD ranked 25th the previous 4 hours in terms of percentage price change.

AUD/CAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for AUD/CAD, which started today off at 0.93318, down 5 pips 0.06% from the day prior. Compared to its peers in the Forex, AUD/CAD gave its buyers a return that ranked 25th in terms of percentage change since the day prior. 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. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 29.1 pips away. 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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days AUD/CAD’s price has gone up 17 them. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDCAD, with 4 buy signals on our radar and 13 sell signals. This imputes a buy/sell ratio of 0.31, which is bearish. As for the rationale, technical traders seem to be citing the appearance of channel, fibonacci, flag and trendline technical patterns. Here’s a piece we found on tradingview.com that we thought you might enjoy.