(Last Updated September 12, 2022 1:34 GMT)
Currently, AUDCAD’s rate is up 8 pips (0.09%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend 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 0.8906, up 71 pips (0.8%) from the day prior. Relative to other instruments in the Forex asset class, AUDCAD ranked 3rd the day prior in terms of percentage price change. The price chart of AUDCAD below illustrates.
AUDCAD Technical Analysis
Coming into today AUDCAD is now close to its 20, 50, 100 and 200 day averages, located at 0.8953, 0.8928, 0.898 and 0.9092 respectively, and thus may be at a key juncture along those timeframes. 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 21.5 pips away. It should be noted, though, the 50 day simple moving average turned upwards, which may be a bullish sign. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 6 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 2 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.
Ich erwarte eine Korrektur bevor der Preis die nächste impulsive Bewegung durchführt.Dieses Paar bietet zurzeit zwei Trades an