(Last Updated November 24, 2022 1:37 GMT)
At the time of this writing, AUDUSD’s rate is up 14 pips (0.2%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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 95 pips (1.43%) since yesterday (opening today near 0.67407), marking the 2nd day in a row an increase has occurred. Relative to other instruments in the Forex asset class, AUDUSD ranked 3rd yesterday in terms of percentage price change. Below is a price chart of AUDUSD.
AUDUSD Technical Analysis
First things first: AUDUSD crossed above its 100 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 100 day average, which is 51.1 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone up 8 out of the past 14 days.