AUD/USD Up 4 Pips Over Past 4 Hours; in an Uptrend Over Past 14 Days

AUD/USD 4 Hour Price Update

Updated July 24, 2020 09:06 PM GMT (05:06 PM EST)

AUD/USD is up 4 pips (0.06%) since the last 4 hour candle (opening the current 4 hour candle near 0.7097), marking the 3rd candle in a row an upward move has occurred. Relative to other instruments in the Forex asset class, AUD/USD ranked 14th the last 4 hour candle in terms of percentage price change.

AUD/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for AUD/USD, which started today off at 0.71021, up 5 pips 0.07% from yesterday. Relative to other instruments in the Forex asset class, AUD/USD ranked 3rd yesterday in terms of percentage price change. The price chart of AUD/USD below illustrates.

AUD/USD

AUD/USD Technical Analysis

The first thing we should note is that AUD/USD is now close to its 20 day averages, located at 0.6996 respectively, and thus may be at a key juncture along those timeframes. 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 106.4 pips away. 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 30 days AUD/USD’s price has gone up 20 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDUSD, with 18 buy signals on our radar and 15 sell signals. This imputes a buy/sell ratio of 1.2, which is neutral. As for the rationale, technical traders seem to be citing the appearance of channel and fibonacci technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Go lengthy following bullish worse motion on the H₁ timeframe instantly upon the following contact of 0.7118, 0.7109, or 0.7035….Regulate the cease loss to interrupt even as soon as the commerce is 20 pips in revenue….Regulate the cease loss to interrupt even as soon as the commerce is 20 pips in revenue.