AUDUSD Up 5 Pips in Last Hour, Moves Down For the 2nd Consecutive Day; Crosses 100 Day Moving Average

Hourly Update

(Last Updated June 10, 2021 18:16 GMT)

At the time of this writing, AUDUSD’s rate is up 5 pips (0.06%) from the hour prior. This is the 2nd consecutive hour AUDUSD has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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.

AUDUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDUSD is down 8 pips (0.1%) since the previous day (opening today near 0.77289), marking the 2nd consecutive day it has gone down. Relative to other instruments in the Forex asset class, AUDUSD ranked 24th the previous day in terms of percentage price change. Here is a price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

Notably, AUDUSD crossed below its 100 day moving average yesterday. 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 5.8 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Also of note is that on a 14 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 down 8 out of the past 14 days.