AUD/USD 4 Hour Price Update
Updated June 26, 2020 01:11 PM GMT (09:11 AM EST)
AUD/USD is down 10 pips (0.15%) since the last 4 hour candle (opening the current 4 hour candle near 0.6874), marking the 3rd candle in a row a decrease has occurred. Out of the 37 instruments in the Forex asset class, AUD/USD ended up ranking 33rd for the four-hour candle in terms of price change.
AUD/USD End of Day Recap
Updated 00:30 GMT (04:30 EST)
AUD/USD is up 5 pips (0.07%) since the day prior (opening today near 0.68915), marking the 2nd day in a row it has gone up. Relative to other instruments in the Forex asset class, AUD/USD ranked 5th the day prior in terms of percentage price change. Here is a price chart of AUD/USD.
AUD/USD Technical Analysis
The first thing we should note is that the current price of AUD/USD is sitting close to its 20 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 15.5 pips away. It should be noted, though, the 200 day simple moving average turned upwards, which may be a bullish sign. Volatility for AUD/USD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days AUD/USD’s price has gone up 8 them.
The View From Around the Web
Of note is that traders in aggregate have opinions on AUDUSD, with 9 buy signals on our radar and 21 sell signals. This imputes a buy/sell ratio of 0.43, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
AUDUSD price break lower on 9th June and we able to spot bearish trade set ups and profiting around 200pips….Price is now under contracting triangleCurrently, this pair didn’t provide us any quality trade set up….We can only wait for price to break either side of the contracting triangle and look for trade set ups.