AUD/USD Down 12 Pips On Hourly Chart; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated September 8, 2022 1:35 GMT)

Currently, AUDUSD’s rate is down -12 pips (-0.18%) from the hour prior. The hourly chart shows that AUDUSD has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDUSD. Given that we see an uptrend 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 entered today at 0.67516, up 18 pips (0.27%) from yesterday. Out of the 39 instruments in the Forex asset class, AUDUSD ended up ranking 19th for the day in terms of price change. Below is a price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

The first thing we should note is that AUDUSD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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 50 day average, which is 143.9 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days AUDUSD’s price has gone up 5 them.