AUDUSD Down 2 Pips On Hourly Chart, Came Into Today Up For the 2nd Day In A Row; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated October 9, 2020 2:15 GMT)

Currently, AUDUSD’s rate is down -2 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 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 up 31 pips (0.44%) since yesterday (opening today near 0.71659), marking the 2nd day in a row it has gone up. Compared to its peers in the Forex, AUDUSD gave its buyers a return that ranked 4th in terms of percentage change since yesterday. Here 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 20 day average, which is 13 pips away. 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. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone up 16 out of the past 30 days.