(Last Updated May 4, 2021 2:15 GMT)
At the time of this writing, AUDUSD’s rate is down -6 pips (-0.07%) 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 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 and 200 hour moving averages, resulting in them so that price is now turning below them. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 up 42 pips (0.54%) since yesterday (opening today near 0.77585), marking the 2nd day in a row it has gone up. Compared to its peers in the Forex, AUDUSD gave its buyers a return that ranked 4th in terms of percentage change since yesterday. Here is a price chart of AUDUSD.
AUDUSD Technical Analysis
First things first: AUDUSD crossed above its 20 and 100 day moving averages yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 28.4 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. Volatility for AUDUSD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 30 days AUDUSD’s price has gone up 18 them.