(Last Updated September 10, 2021 2:13 GMT)
At the moment, AUDUSD’s rate is down -1 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on AUDUSD. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)
A moment of silence, please, for the end of AUDUSD’s 4 day down streak; price ended the previous day up 4 pips (0.05%) to finish the day at a rate of 0.73674. Out of the 39 instruments in the Forex asset class, AUDUSD ended up ranking 9th for the day in terms of price change. Below is a price chart of AUDUSD.
AUDUSD Technical Analysis
Notably, AUDUSD is now close to its 20, 50 and 100 day averages, located at 0.7305, 0.7343 and 0.7491 respectively, and thus may be at a key juncture along those timeframes. 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. Or to simplify this another way, note that out of the past 10 days AUDUSD’s price has gone up 5 them.