AUDUSD Up 6 Pips Over Past Hour, Crosses 100 Day Moving Average; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated October 19, 2020 10:14 GMT)

At the time of this writing, AUDUSD’s rate is up 6 pips (0.08%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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)

AUDUSD is down 16 pips (0.23%) since the previous day (opening today near 0.7076), marking the 2nd day in a row a decline has happened. Compared to its peers in the Forex, AUDUSD gave its buyers a return that ranked 32nd in terms of percentage change since the previous day. The price chart of AUDUSD below illustrates.

AUDUSD

AUDUSD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: AUDUSD crossed below its 100 day moving average yesterday. 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 19.8 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 10 days AUDUSD’s price has gone up 5 them.