AUD/USD Down 3 Pips in Last 4 Hours, Came Into Today Up For the 2nd Day In A Row; Doji Pattern Appearing on Chart

AUD/USD 4 Hour Price Update

Updated May 25, 2020 09:09 PM GMT (05:09 PM EST)

The choppiness in the recent four-hour candle price action of AUD/USD continues; to start the current 4 hour candle, it came in at a price of 0.6544, down 3 pips (0.05%) since the previous 4 hours. Out of the 37 instruments in the Forex asset class, AUD/USD ended up ranking 33rd for the four-hour candle in terms of price change.

AUD/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/USD is up 10 pips (0.15%) since the previous day (opening today near 0.65453), marking the 2nd day in a row it has gone up. Relative to other instruments in the Forex asset class, AUD/USD ranked 6th the previous day in terms of percentage price change. Let’s take a look at price chart of AUD/USD.

AUD/USD Technical Analysis

The first thing we should note is that AUD/USD is now close to its 20, 100 and 200 day averages, located at 0.6488, 0.6415 and 0.6633 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 57.4 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days AUD/USD’s price has gone up 7 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDUSD, with 13 buy signals on our radar and 20 sell signals. This imputes a buy/sell ratio of 0.65, 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; below is a short snippet from it to give you a taste.

– Currently we have small bearish flag as for short retracement….Two ScenariosBullish Scenario:1….Bearish Scenario:2.