AUD/CAD Up 6 Pips Over Past Hour, 5 Day Up Streak Broken; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated December 27, 2021 1:34 GMT)

At the time of this writing, AUDCAD’s rate is up 6 pips (0.06%) 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. Price action traders may also wish to note that we see a pin bar candlestick pattern on AUDCAD. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)

A moment of silence, please, for the end of AUDCAD’s 5 day up streak; price ended the previous day down 32 pips (-0.34%) to finish the day at a rate of 0.92525. Out of the 39 instruments in the Forex asset class, AUDCAD ended up ranking 35th for the day in terms of price change. Below is a price chart of AUDCAD.

AUDCAD

AUDCAD Technical Analysis

Coming into today AUDCAD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 8 out of the past 10 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for AUDCAD; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Sell the resistance opportunity We are selling this strong pullback Hoping to get some pips 👈Money management required ✔Good luck