AUDUSD Down 1 Pips On Hourly Chart, Moves Up For the 2nd Day In A Row; is Inching Close to 20 and 50 Day Averages

Hourly Update

(Last Updated September 15, 2021 1:13 GMT)

At the moment, AUDUSD’s rate is down -1 pips (-0.02%) from the hour prior. This is the 2nd consecutive hour AUDUSD has seen its price head down. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on AUDUSD. Given that we see downtrend on the 20 and 10 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 up 1 pips (0.01%) since the previous day (opening today near 0.73674), marking the 2nd day in a row it has gone up. Relative to other instruments in the Forex asset class, AUDUSD ranked 18th the previous day in terms of percentage price change. Let’s take a look at price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

Notably, the current price of AUDUSD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 8 out of the past 14 days.