AUD/USD Down 6 Pips in Last Hour, 2 Day Down Streak Snapped; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated August 2, 2022 1:35 GMT)

At the moment, AUDUSD’s rate is down -6 pips (-0.08%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as AUDUSD has now gone up 4 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. 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 0.70258, up 56 pips 0.81% from yesterday. Relative to other instruments in the Forex asset class, AUDUSD ranked 4th yesterday in terms of percentage price change. The price chart of AUDUSD below illustrates.

AUDUSD

AUDUSD Technical Analysis

Notably, AUDUSD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone down 16 out of the past 30 days.