AUD/USD 4 Hour Price Update
Updated July 08, 2020 09:12 AM GMT (05:12 AM EST)
AUD/USD is up 4 pips (0.06%) since the last 4 hour candle (opening the current 4 hour candle near 0.6947), marking the 2nd candle in a row an increase has occurred. Relative to other instruments in the Forex asset class, AUD/USD ranked 5th the last 4 hour candle in terms of percentage price change.
AUD/USD End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of AUD/USD continues; to start today, it came in at a price of 0.69488, up 3 pips (0.04%) since yesterday. Relative to other instruments in the Forex asset class, AUD/USD ranked 20th yesterday in terms of percentage price change. Let’s take a look at price chart of AUD/USD.
AUD/USD Technical Analysis
Notably, the current price of AUD/USD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 51.1 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days AUD/USD’s price has gone up 10 them.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on AUDUSD, with 11 buy signals on our radar and 21 sell signals. This imputes a buy/sell ratio of 0.52, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
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