AUD/USD Down 4 Pips Over Past Hour; Makes Big Move Relative to Two Week Trend

Hourly Update

(Last Updated July 4, 2022 1:35 GMT)

At the moment, AUDUSD’s rate is down -4 pips (-0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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 0.68162, down 82 pips (1.19%) from the previous day. Relative to other instruments in the Forex asset class, AUDUSD ranked 35th the previous day in terms of percentage price change. Let’s take a look at price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

Coming into today AUDUSD is now close to its 20 day averages, located at 0.6982 respectively, and thus may be at a key juncture along those timeframes. 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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days AUDUSD’s price has gone down 18 them.