AUD/USD 4 Hour Price Update
Updated July 24, 2020 01:07 PM GMT (09:07 AM EST)
The back and forth price flow continues for AUD/USD, which started the current 4 hour candle off at 0.7083, up 4 pips 0.06% from the previous 4 hours. Relative to other instruments in the Forex asset class, AUD/USD ranked 8th the previous 4 hours in terms of percentage price change.
AUD/USD End of Day Recap
Updated 00:30 GMT (04:30 EST)
AUD/USD entered today at 0.71021, up 5 pips (0.07%) from yesterday. Relative to other instruments in the Forex asset class, AUD/USD ranked 3rd yesterday in terms of percentage price change. Here is a price chart of AUD/USD.
AUD/USD Technical Analysis
Notably, AUD/USD is now close to its 20 day averages, located at 0.6996 respectively, and thus may be at a key juncture along those timeframes. 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 106.4 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 8 out of the past 14 days.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on AUDUSD, with 19 buy signals on our radar and 16 sell signals. This imputes a buy/sell ratio of 1.19, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Go lengthy following bullish worse motion on the H₁ timeframe instantly upon the following contact of 0.7118, 0.7109, or 0.7035….Regulate the cease loss to interrupt even as soon as the commerce is 20 pips in revenue….Regulate the cease loss to interrupt even as soon as the commerce is 20 pips in revenue.