AUD/USD Down 8 Pips On Hourly Chart, in a Downtrend Over Past 90 Days; Eyes 50 Day Average

Hourly Update

(Last Updated August 4, 2022 1:38 GMT)

At the moment, AUDUSD’s rate is down -8 pips (-0.12%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDUSD has now gone down 4 of the past 5 hours. 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)

The back and forth price flow continues for AUDUSD, which started today off at 0.6943, up 40 pips 0.58% from the previous day. Out of the 39 instruments in the Forex asset class, AUDUSD ended up ranking 8th for the day in terms of price change. Let’s take a look at price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

Coming into today AUDUSD is now close to its 20, 50 and 100 day averages, located at 0.6883, 0.6961 and 0.7114 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 14 day timeframe. For additional context, note that price has gone up 5 out of the past 10 days.