AUDUSD Up 13 Pips in Last Hour, Moves Up For the 2nd Straight Day; Eyes 100 Day Average

Hourly Update

(Last Updated April 26, 2021 3:15 GMT)

Currently, AUDUSD’s rate is up 13 pips (0.17%) from the hour prior. The hourly chart shows that AUDUSD has seen 2 straight up 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 doji 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 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 up 3 pips (0.04%) since the day prior (opening today near 0.77483), marking the 2nd straight day an upward move has occurred. Out of the 39 instruments in the Forex asset class, AUDUSD ended up ranking 17th for the day in terms of price change. Let’s take a look at 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 100 day average, which is 35 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 up. For additional context, note that price has gone up 9 out of the past 14 days.