AUD/CAD Up 15 Pips On Hourly Chart; Nears 20 Day Moving Average

Hourly Update

(Last Updated July 15, 2022 1:36 GMT)

Currently, AUDCAD’s rate is up 15 pips (0.17%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend 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)

The back and forth price flow continues for AUDCAD, which started today off at 0.8848, up 79 pips 0.9% from the previous day. Out of the 39 instruments in the Forex asset class, AUDCAD ended up ranking 8th for the day in terms of price change. Here is a price chart of AUDCAD.

AUDCAD

AUDCAD Technical Analysis

Coming into today the current price of AUDCAD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. 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 30 days AUDCAD’s price has gone down 21 them.