AUDUSD Down 26 Pips On Hourly Chart, 3 Day Up Streak Broken; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated October 13, 2020 2:15 GMT)

Currently, AUDUSD’s rate is down -26 pips (-0.36%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDUSD has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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, which opened today priced near 0.72069, is down 33 pips 0.45% since the day prior, marking a reversal from the day prior — and the end of a 3 day positive run. Compared to its peers in the Forex, AUDUSD gave its buyers a return that ranked 34th in terms of percentage change since the day prior. Below is a price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

First things first: AUDUSD crossed below its 50 day moving average 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 50 day average, which is 0.7 pips away. 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 30 day timeframe. Or to simplify this another way, note that out of the past 14 days AUDUSD’s price has gone up 8 them.