AUD/CAD 4 Hour Price Update
Updated June 30, 2020 09:11 PM GMT (05:11 PM EST)
The back and forth price flow continues for AUD/CAD, which started the current 4 hour candle off at 0.9368, down 16 pips 0.17% from the last 4 hour candle. Out of the 37 instruments in the Forex asset class, AUD/CAD ended up ranking 30th for the four-hour candle in terms of 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 0.93885, up 20 pips 0.21% from the previous day. Compared to its peers in the Forex, AUD/CAD gave its buyers a return that ranked 2nd in terms of percentage change since the previous day. The price chart of AUD/CAD below illustrates.
AUD/CAD Technical Analysis
Notably, AUD/CAD is now close to its 20 and 50 day averages, located at 0.9356 and 0.9232 respectively, and thus may be at a key juncture along those timeframes. 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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 14 days. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.
The View From Around the Web
Of note is that traders in aggregate have opinions on AUDCAD, with 5 buy signals on our radar and 16 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 fibonacci, head and shoulders, relative strength index, trendline and wedge technical patterns. Here’s a piece we found on tradingview.com that we thought you might enjoy.