AUD/USD Up 2 Pips Over Past 4 Hours, Came Into Today Up For the 7th Day In A Row; in an Uptrend Over Past 90 Days

AUD/USD 4 Hour Price Update

Updated July 31, 2020 05:08 AM GMT (01:08 AM EST)

AUD/USD is up 2 pips (0.03%) since the last 4 hour candle (opening the current 4 hour candle near 0.7206), marking the 5th candle in a row it has gone up. Compared to its peers in the Forex, AUD/USD gave its buyers a return that ranked 17th in terms of percentage change since the last 4 hour candle.

AUD/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/USD is up 1 pips (0.02%) since yesterday (opening today near 0.7195), marking the 7th day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, AUD/USD ranked 22nd yesterday in terms of percentage price change. Let’s take a look at price chart of AUD/USD.

AUD/USD

AUD/USD Technical Analysis

Notably, the current price of AUD/USD is sitting close to its 20 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. Or to simplify this another way, note that out of the past 14 days AUD/USD’s price has gone up 12 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDUSD, with 16 buy signals on our radar and 20 sell signals. This imputes a buy/sell ratio of 0.8, which is neutral. As for the rationale, technical traders seem to be citing the appearance of channel and trendline technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Using the fib tool, I believe and hope AUDUSD will continue going upward. What do you think!