AUDUSD Up 1 Pips in Last Hour, 2 Day Down Streak Snapped; Breaks Above 50 Day Average

Hourly Update

(Last Updated October 8, 2021 10:13 GMT)

At the moment, AUDUSD’s rate is up 1 pips (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend 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 downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)

AUDUSD entered today at 0.73139, up 32 pips (0.44%) from the day prior. Relative to other instruments in the Forex asset class, AUDUSD ranked 7th the day prior in terms of percentage price change. Below is a price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

Notably, AUDUSD crossed above its 50 day moving average yesterday. 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. For additional context, note that price has gone down 16 out of the past 30 days.