AUD/USD Down 4 Pips in Last Hour

Hourly Update

(Last Updated July 13, 2022 1:35 GMT)

At the moment, AUDUSD’s rate is down -4 pips (-0.06%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDUSD has now gone down 5 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji 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 and 5 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 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)

The back and forth price flow continues for AUDUSD, which started today off at 0.67534, up 15 pips 0.22% from the day prior. Relative to other instruments in the Forex asset class, AUDUSD ranked 8th the day prior 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 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for AUDUSD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 19 out of the past 30 days.