AUD/USD Down 36 Pips Over Past 4 Hours, Moves Up For the 3rd Day In A Row; in a Downtrend Over Past 14 Days

AUD/USD 4 Hour Price Update

Updated March 25, 2020 01:38 PM GMT (09:38 AM EST)

After 5 up four-hour candles, AUD/USD snaps its streak, falling 36 pips (-0.6%) over the past four-hour candle to close at an exchange rate of 0.6003. Relative to other instruments in the Forex asset class, AUD/USD ranked 33rd the last 4 hour candle in terms of percentage price change.

AUD/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/USD is up 18 pips (0.3%) since the previous day (opening today near 0.5973), marking the 3rd day in a row an increase has occurred. Out of the 40 instruments in the Forex asset class, AUD/USD ended up ranking 4th for the day in terms of price change. Let’s take a look at price chart of AUD/USD.

AUD/USD Technical Analysis

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. Or to simplify this another way, note that out of the past 14 days AUD/USD’s price has gone down 10 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDUSD, with 18 buy signals on our radar and 13 sell signals. This imputes a buy/sell ratio of 1.38, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

AUD/USD looks poised for a larger recovery as the exchange rate carves a series of higher highs and lows, while the RSI displays a textbook buy signal.