AUDUSD Down 2 Pips Over Past Hour, Price Base in Formation Over Past 90 Days; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated April 30, 2021 4:15 GMT)

Currently, AUDUSD’s rate is down -2 pips (-0.03%) from the hour prior. This is the 2nd consecutive hour AUDUSD has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning below it. 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.

AUDUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDUSD entered today at 0.77761, down 23 pips (0.29%) from the previous day. Compared to its peers in the Forex, AUDUSD gave its buyers a return that ranked 35th in terms of percentage change since the previous day. Below is a price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

The first thing we should note is that AUDUSD is now close to its 20, 50 and 100 day averages, located at 0.7715, 0.7699 and 0.7719 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 100 day average, which is 57.3 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. Volatility for AUDUSD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 8 out of the past 14 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.