AUDUSD Down 4 Pips in Last Hour, Breaks Above 100 Day Average; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated October 15, 2021 1:13 GMT)

At the moment, AUDUSD’s rate is down -4 pips (-0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved 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 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 0.73788, up 34 pips (0.47%) from the previous day. Out of the 39 instruments in the Forex asset class, AUDUSD ended up ranking 8th for the day in terms of price change. Here is a price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: AUDUSD crossed above its 100 day moving average yesterday. The clearest trend exists on the 14 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 90 day timeframe. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 30 days AUDUSD’s price has gone up 15 them.