AUD/USD Down 0 Pips in Last Hour, Underperforms All Forex; But Still in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated November 22, 2022 1:37 GMT)

Currently, AUDUSD’s rate is down 0 pips (0%) from the hour prior. The hourly chart shows that AUDUSD has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on AUDUSD. 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.

AUDUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDUSD is down 69 pips (1.03%) since the previous day (opening today near 0.66039), marking the 4th day in a row it has gone down. Those trading within the Forex asset class should know that AUDUSD was the worst performer in the class. Let’s take a look at price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

Notably, AUDUSD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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 77.5 pips away. 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. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone down 16 out of the past 30 days.