AUD/CAD Up 5 Pips On Hourly Chart, 2 Day Up Streak Snapped; Crosses 50 Day Moving Average

Hourly Update

(Last Updated September 14, 2022 1:34 GMT)

Currently, AUDCAD’s rate is up 5 pips (0.06%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as AUDCAD has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 entered today at 0.8867, down 75 pips (0.84%) from the previous day. Compared to its peers in the Forex, AUDCAD gave its buyers a return that ranked 29th in terms of percentage change since the previous day. The price chart of AUDCAD below illustrates.

AUDCAD

AUDCAD Technical Analysis

Notably, AUDCAD crossed below its 50 day moving average yesterday. 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 50 day average, which is 64.4 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 6 out of the past 10 days.