AUD/CAD Up 5 Pips in Last Hour, Came Into Today Up For the 2nd Straight Day; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated December 29, 2021 1:38 GMT)

At the time of this writing, AUDCAD’s rate is up 5 pips (0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. 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 up 12 pips (0.13%) since the day prior (opening today near 0.92665), marking the 2nd straight day it has gone up. Relative to other instruments in the Forex asset class, AUDCAD ranked 6th the day prior in terms of percentage price change. Below is a price chart of AUDCAD.

AUDCAD

AUDCAD Technical Analysis

Coming into today the current price of AUDCAD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 20 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.