AUD/USD Up 23 Pips On 4 Hour Chart; 2 Day Up Streak Ended

AUD/USD 4 Hour Price Update

Updated May 19, 2020 05:11 PM GMT (01:11 PM EST)

The back and forth price flow continues for AUD/USD, which started the current 4 hour candle off at 0.6565, up 23 pips 0.35% from the previous 4 hours. Compared to its peers in the Forex, AUD/USD gave its buyers a return that ranked 11th in terms of percentage change since the previous 4 hours.

AUD/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of AUD/USD continues; to start today, it came in at a price of 0.65213, down 3 pips (0.05%) since yesterday. Out of the 40 instruments in the Forex asset class, AUD/USD ended up ranking 36th for the day in terms of price change. Here is a price chart of AUD/USD.

AUD/USD Technical Analysis

Coming into today AUD/USD is now close to its 20, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 51 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 7 out of the past 14 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDUSD, with 12 buy signals on our radar and 29 sell signals. This imputes a buy/sell ratio of 0.41, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern. Here’s a piece we found on tradingview.com that we thought you might enjoy.