AUDCAD Up 1 Pips in Last Hour, 2 Day Down Streak Snapped; Nears 200 Day Moving Average

Hourly Update

(Last Updated April 2, 2021 23:13 GMT)

At the moment, AUDCAD’s rate is up 1 pips (0.01%) from the hour prior. AUDCAD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

AUDCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for AUDCAD, which started today off at 0.95564, up 16 pips 0.17% from the previous day. Relative to other instruments in the Forex asset class, AUDCAD ranked 16th the previous day in terms of percentage price change. Below is a price chart of AUDCAD.

AUDCAD

AUDCAD Technical Analysis

Notably, AUDCAD is now close to its 20, 50, 100 and 200 day averages, located at 0.9649, 0.9762, 0.9718 and 0.9602 respectively, and thus may be at a key juncture along those timeframes. 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 200 day average, which is 45.8 pips away. 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 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 5 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDCAD, with 6 buy signals on our radar and 3 sell signals. This imputes a buy/sell ratio of 2, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

One of the very few times I actually use indicators… Bullish Divergance. ENTER AT YOUR OWN RISK.