(Last Updated September 6, 2021 23:13 GMT)
At the moment, AUDUSD’s rate is down -2 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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)
AUDUSD, which opened today priced near 0.74487, is down 1 pips 0.02% since the day prior, marking a reversal from the day prior — and the end of a 4 day positive run. Relative to other instruments in the Forex asset class, AUDUSD ranked 27th the day prior in terms of percentage price change. The price chart of AUDUSD below illustrates.
AUDUSD Technical Analysis
The first thing we should note is that the current price of AUDUSD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 10 out of the past 14 days.