AUDCAD Down 3 Pips in Last Hour, Moves Down For the 2nd Straight Day; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated July 19, 2021 6:11 GMT)

At the moment, AUDCAD’s rate is down -3 pips (-0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 20 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 23 pips (0.25%) since the previous day (opening today near 0.93264), marking the 2nd straight day a decrease has occurred. Out of the 39 instruments in the Forex asset class, AUDCAD ended up ranking 33rd for the day in terms of price change. Let’s take a look at price chart of AUDCAD.

AUDCAD

AUDCAD Technical Analysis

Coming into today AUDCAD is now close to its 20, 50 and 100 day averages, located at 0.9322, 0.9348 and 0.9494 respectively, and thus may be at a key juncture along those timeframes. 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. Or to simplify this another way, note that out of the past 10 days AUDCAD’s price has gone up 6 them.