(Last Updated September 22, 2022 1:36 GMT)
At the moment, AUDUSD’s rate is down -11 pips (-0.17%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDUSD has now gone down 12 of the past 14 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDUSD. Given that we see downtrend 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 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 down 84 pips (1.26%) since the day prior (opening today near 0.66108), marking the 2nd consecutive day it has gone down. Relative to other instruments in the Forex asset class, AUDUSD ranked 37th the day prior in terms of percentage price change. Below is a price chart of AUDUSD.
AUDUSD Technical Analysis
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. Or to simplify this another way, note that out of the past 30 days AUDUSD’s price has gone up 15 them.
The View From Around the Web
Of note is that traders in aggregate have opinions on AUDUSD, with 12 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 2, which is bullish. Here’s a piece we found on fxempire.com; below is a short snippet from it to give you a taste.
The Australian dollar has been rather choppy during trading on Wednesday as we wait for Jerome Powell to come in and kill all hope of a risk rally.