AUD/USD Down 0 Pips On Hourly Chart

Hourly Update

(Last Updated August 31, 2022 1:37 GMT)

At the moment, AUDUSD’s rate is down 0 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern 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)

The choppiness in the recent daily price action of AUDUSD continues; to start today, it came in at a price of 0.68563, down 49 pips (0.71%) since yesterday. Compared to its peers in the Forex, AUDUSD gave its buyers a return that ranked 38th in terms of percentage change since yesterday. 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 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 50 day average, which is 53.6 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 down. For additional context, note that price has gone down 15 out of the past 30 days.