AUDUSD Up 1 Pips in Last Hour, Moves Up For the 3rd Day In A Row; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated February 22, 2021 23:15 GMT)

At the moment, AUDUSD’s rate is up 1 pips (0.01%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as AUDUSD has now gone up 8 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDUSD. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

AUDUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDUSD is up 99 pips (1.27%) since the previous day (opening today near 0.78679), marking the 3rd day in a row an upward move has occurred. Compared to its peers in the Forex, AUDUSD gave its buyers a return that ranked 2nd in terms of percentage change since the previous day. The price chart of AUDUSD below illustrates.

AUDUSD

AUDUSD Technical Analysis

The first thing we should note is that AUDUSD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days AUDUSD’s price has gone up 18 them.