AUDUSD Down 4 Pips Over Past Hour, 2 Day Down Streak Broken; Pin Bar Pattern Appearing on Chart

Hourly Update

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

Currently, AUDUSD’s rate is down -4 pips (-0.06%) 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. 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 entered today at 0.71613, up 3 pips (0.04%) from yesterday. Out of the 40 instruments in the Forex asset class, AUDUSD ended up ranking 14th for the day in terms of price change. Let’s take a look at price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: AUDUSD crossed above its 20 day moving average yesterday. 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 2.8 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. Or to simplify this another way, note that out of the past 10 days AUDUSD’s price has gone up 6 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.