(Last Updated September 12, 2022 1:36 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. 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 80 pips (1.19%) since the previous day (opening today near 0.68434), marking the 3rd straight day an upward move has occurred. On a relative basis, the previous day was pretty good: AUDUSD bested all 39 of the assets in the Forex class 🙂 Here is a price chart of AUDUSD.
AUDUSD Technical Analysis
The first thing we should note is that 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. 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 10 days AUDUSD’s price has gone up 6 them.