(Last Updated September 3, 2021 2:13 GMT)
At the time of this writing, AUDUSD’s rate is up 8 pips (0.11%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 20 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 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 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 up 34 pips (0.45%) since the previous day (opening today near 0.73992), marking the 3rd day in a row an increase has occurred. Relative to other instruments in the Forex asset class, AUDUSD ranked 5th the previous day in terms of percentage price change. Here is a price chart of AUDUSD.
AUDUSD Technical Analysis
Notably, 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. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 8 out of the past 10 days.