AUDCAD Down 0 Pips in Last Hour, Entered Today Down For the 2nd Day In A Row; Nears 20 Day Moving Average

Hourly Update

(Last Updated February 17, 2021 23:13 GMT)

At the moment, AUDCAD’s rate is down 0 pips (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. Of note is that the 100 and 20 hour changed directions on AUDCAD; they are now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 7 pips (0.07%) since yesterday (opening today near 0.9833), marking the 2nd day in a row a decline has happened. Relative to other instruments in the Forex asset class, AUDCAD ranked 28th yesterday in terms of percentage price change. Below is a 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 0.9807, 0.9766 and 0.9618 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 up. For additional context, note that price has gone up 8 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.