AUD/USD Up 10 Pips Over Past 4 Hours, 2 Day Up Streak Snapped; in an Uptrend Over Past 90 Days

AUD/USD 4 Hour Price Update

Updated July 27, 2020 09:07 PM GMT (05:07 PM EST)

AUD/USD entered the current 4 hour candle at 0.7142, up 10 pips (0.14%) from the previous 4 hours. Compared to its peers in the Forex, AUD/USD gave its buyers a return that ranked 7th in terms of percentage change since the previous 4 hours.

AUD/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of AUD/USD continues; to start today, it came in at a price of 0.71069, down 0 pips (0%) since yesterday. Compared to its peers in the Forex, AUD/USD gave its buyers a return that ranked 34th in terms of percentage change since yesterday. Below is a price chart of AUD/USD.

AUD/USD

AUD/USD Technical Analysis

Notably, AUD/USD is now close to its 20 and 50 day averages, located at 0.7013 and 0.6941 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. For additional context, note that price has gone up 19 out of the past 30 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDUSD, with 16 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 1.6, which is bullish. As for the rationale, technical traders seem to be citing the appearance of channel and double top technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Although the US dollar is in a bad situation, this may not happen in every pair….Like AUDUSD, the price started to rise and fall a little bit on July 24th, even for most pairs the US dollars were going down at that time….Let’s just ignore the bad situation of US dollars, just focus on this pair.