(Last Updated September 8, 2021 12:13 GMT)
At the moment, AUDUSD’s rate is up 6 pips (0.08%) from the hour prior. The hourly chart shows that AUDUSD has seen 3 straight up hours. 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 is down 51 pips (0.69%) since yesterday (opening today near 0.73874), marking the 3rd straight day a decline has happened. Those trading within the Forex asset class should know that AUDUSD was the worst performer in the class. Let’s take a look at price chart of AUDUSD.
AUDUSD Technical Analysis
Coming into today the current price of AUDUSD is sitting close to its 20, 50 and 100 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. Or to simplify this another way, note that out of the past 10 days AUDUSD’s price has gone up 6 them.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on AUDUSD, with 4 buy signals on our radar and 16 sell signals. This imputes a buy/sell ratio of 0.25, which is bearish. As for the rationale, technical traders seem to be citing the appearance of demand zone technical patterns. Here’s a piece we found on forexlive.com; below is a short snippet from it to give you a taste.
An update from WPAC on the Australian dollar. Outl;look:WPAC cite:—-Weekly candles AUD/USD: