(Last Updated September 16, 2022 1:37 GMT)
Currently, AUDUSD’s rate is down -2 pips (-0.03%) from the hour prior. AUDUSD has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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)
The back and forth price flow continues for AUDUSD, which started today off at 0.66913, down 62 pips 0.92% from yesterday. It may be worth observing that AUDUSD was the worst performer of the 39 members in the Forex asset class over the past day. Below is a price chart of AUDUSD.
AUDUSD Technical Analysis
Notably, AUDUSD is now close to its 20 day moving averages, which may act as price barrier for the asset. 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. For additional context, note that price has gone up 8 out of the past 14 days.