(Last Updated April 27, 2021 2:15 GMT)
Currently, AUDUSD’s rate is down -1 pips (-0.01%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDUSD has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar 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. With that said, traders should also note the downtrend on the 10 hourly candle timeframe, so the meaning of the candles may require further exploration. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 50 pips (0.65%) since the previous day (opening today near 0.77986), marking the 3rd straight day an increase has occurred. Out of the 39 instruments in the Forex asset class, AUDUSD ended up ranking 7th for the day in terms of price change. Here is a price chart of AUDUSD.
AUDUSD Technical Analysis
The first thing we should note is that AUDUSD is now close to its 20, 50 and 100 day averages, located at 0.7695, 0.7699 and 0.7715 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 100 day average, which is 83.2 pips away. It should be noted, though, the 50 day simple moving average turned upwards, which may be a bullish sign. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days AUDUSD’s price has gone up 17 them.