AUDCAD Down 1 Pips in Last Hour, 2 Day Up Streak Snapped; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated February 16, 2021 23:13 GMT)

At the time of this writing, AUDCAD’s rate is down -1 pips (-0.01%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDCAD has now gone down 5 of the past 5 hours. 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 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 entered today at 0.984, down 6 pips (0.06%) from the day prior. Relative to other instruments in the Forex asset class, AUDCAD ranked 24th the day prior in terms of percentage price change. Below is a price chart of AUDCAD.

AUDCAD

AUDCAD Technical Analysis

Notably, AUDCAD is now close to its 20, 50 and 100 day averages, located at 0.9806, 0.9759 and 0.9614 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 6 out of the past 10 days.