AUD/USD Down 5 Pips On 4 Hour Chart, Underperforms All Forex; Entered Today Down For the 2nd Day In A Row

AUD/USD 4 Hour Price Update

Updated June 25, 2020 01:15 PM GMT (09:15 AM EST)

The back and forth price flow continues for AUD/USD, which started the current 4 hour candle off at 0.686, down 5 pips 0.07% from the previous 4 hours. Relative to other instruments in the Forex asset class, AUD/USD ranked 24th the previous 4 hours in terms of percentage price change.

AUD/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/USD is down 10 pips (0.15%) since the previous day (opening today near 0.68575), marking the 2nd day in a row it has gone down. Those trading within the Forex asset class should know that AUD/USD was the worst performer in the class. Below is a price chart of AUD/USD.

AUD/USD Technical Analysis

Coming into today AUD/USD is now close to its 20 day averages, located at 0.6907 respectively, and thus may be at a key juncture along those timeframes. 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 49.5 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. Volatility for AUD/USD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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 10 days AUD/USD’s price has gone down 6 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDUSD, with 34 buy signals on our radar and 18 sell signals. This imputes a buy/sell ratio of 1.89, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

AUDJPY bounced back from golden level of FIB retracement 0.618, the upside prevails.Trade with the right mindset.Instagram: hmfxglobalPrivate message us to join HMFX signal telegram, free of charge.