AUDUSD Up 3 Pips On Hourly Chart, Entered Today Up For the 2nd Day In A Row; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated July 23, 2021 2:13 GMT)

At the moment, AUDUSD’s rate is up 3 pips (0.04%) from the hour prior. This is the 2nd hour in a row AUDUSD has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend 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 is up 31 pips (0.41%) since the day prior (opening today near 0.73846), marking the 2nd day in a row an upward move has occurred. Out of the 39 instruments in the Forex asset class, AUDUSD ended up ranking 6th for the day in terms of price change. Below is a price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

The first thing we should note is that AUDUSD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 7 out of the past 10 days.