AUD/USD Down 5 Pips Over Past Hour, Moves Up For the 2nd Straight Day; Crosses 50 Day Moving Average

Hourly Update

(Last Updated August 5, 2022 1:37 GMT)

At the moment, AUDUSD’s rate is down -5 pips (-0.08%) 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 100 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 is up 19 pips (0.27%) since yesterday (opening today near 0.69617), marking the 2nd straight day it has gone up. Out of the 39 instruments in the Forex asset class, AUDUSD ended up ranking 14th for the day in terms of price change. Let’s take a look at price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

First things first: AUDUSD crossed above its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed up. For additional context, note that price has gone up 5 out of the past 10 days.