AUDUSD Up 4 Pips On Hourly Chart, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated April 22, 2021 2:15 GMT)

Currently, AUDUSD’s rate is up 4 pips (0.06%) from the hour prior. This is the 2nd straight hour AUDUSD has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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. Of note is that the 100 hour changed directions on AUDUSD; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 0.77544, up 30 pips 0.38% from the previous day. Relative to other instruments in the Forex asset class, AUDUSD ranked 9th the previous day in terms of percentage price change. Below is a price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

The first thing we should note is that the current price of AUDUSD is sitting close to its 20, 50 and 100 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 100 day average, which is 45.3 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 15 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.