AUD/USD Down 0 Pips Over Past Hour, Came Into Today Up For the 2nd Straight Day; Eyes 50 Day Average

Hourly Update

(Last Updated September 24, 2021 1:44 GMT)

At the time of this writing, AUDUSD’s rate is down 0 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDUSD has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists 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 an uptrend 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 up 70 pips (0.96%) since the previous day (opening today near 0.73024), marking the 2nd straight day an increase has occurred. Out of the 39 instruments in the Forex asset class, AUDUSD ended up ranking 9th for the day in terms of price change. Below is a price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

Coming into today the current price of AUDUSD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 19.5 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 down. Or to simplify this another way, note that out of the past 30 days AUDUSD’s price has gone up 16 them.