(Last Updated September 16, 2022 1:35 GMT)
At the time of this writing, AUDCAD’s rate is down -6 pips (-0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDCAD. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 entered today at 0.8863, down 20 pips (0.23%) from yesterday. Relative to other instruments in the Forex asset class, AUDCAD ranked 30th yesterday in terms of percentage price change. The price chart of AUDCAD below illustrates.
AUDCAD Technical Analysis
Coming into today AUDCAD is now close to its 20, 50, 100 and 200 day averages, located at 0.8932, 0.8932, 0.897 and 0.9089 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days AUDCAD’s price has gone down 8 them.