AUD/USD Down 25 Pips; in an Uptrend Over Past 30 Days

AUD/USD Price Recap

AUD/USD enters today at 0.69916 in US dollars, down 25 pips (0.35%) from the day prior. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 32.28% from the day before — and down 25.28% from the same day the week before. Out of the 40 instruments in the Forex asset class, AUD/USD ended up ranking 23rd for the day in terms of day-over-day price change. Here is a price chart of AUD/USD.

AUD/USD Technical Analysis

Notably, AUD/USD is now close to its 20, 50 and 200 day averages, located at 0.6898, 0.6859 and 0.6899 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 200 day average, which is 92.1 pips away. Volatility for AUD/USD has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 10 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDUSD, with 21 buy signals on our radar and 20 sell signals. This imputes a buy/sell ratio of 1.05, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we ; below is a short snippet from it to give you a taste.

AudUsd Can Go long after it reverses either from 0.6930 or 0.6880Check for price action for reversalAudUsd is making higher highs and lower lows after Breaking the trendline which it followed for more than a year I think It Would Rise For The Next Few Weeks or MonthsHappy Trading