(Last Updated July 5, 2022 1:34 GMT)
At the moment, AUDCAD’s rate is up 5 pips (0.05%) from the hour prior. AUDCAD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 0.8827, up 47 pips 0.54% from yesterday. Compared to its peers in the Forex, AUDCAD gave its buyers a return that ranked 9th in terms of percentage change since yesterday. Below is a price chart of AUDCAD.
AUDCAD Technical Analysis
Notably, 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. 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 131.8 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 8 out of the past 10 days.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on AUDCAD, with 2 buy signals on our radar and 8 sell signals. This imputes a buy/sell ratio of 0.25, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Sell—–AC has retested on the 4h timeframe and is looking now to go down.——————————————————————————-Let’s see how this trade will go.————————————TP 1 – 80 pips—————-