AUD/CAD Up 2 Pips Over Past Hour, Came Into Today Down For the 2nd Straight Day; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated July 12, 2022 1:35 GMT)

Currently, AUDCAD’s rate is up 2 pips (0.03%) from the hour prior. The hourly chart shows that AUDCAD has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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)

AUDCAD is down 107 pips (1.21%) since yesterday (opening today near 0.8757), marking the 2nd straight day a decline has happened. Out of the 39 instruments in the Forex asset class, AUDCAD ended up ranking 36th for the day in terms of price change. The price chart of AUDCAD below illustrates.

AUDCAD

AUDCAD Technical Analysis

Coming into today AUDCAD is now close to its 20 day averages, located at 0.8914 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 20 day average, which is 156.5 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days AUDCAD’s price has gone down 10 them.