AUD/USD Up 2 Pips Over Past Hour, Fares the Worst Out of Forex; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated November 17, 2022 1:39 GMT)

Currently, AUDUSD’s rate is up 2 pips (0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend 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)

The back and forth price flow continues for AUDUSD, which started today off at 0.67387, down 24 pips 0.36% from yesterday. It may be worth observing that AUDUSD was the worst performer of the 39 members in the Forex asset class over the past day. Here is a price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

The first thing we should note is that AUDUSD is now close to its 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 14 days AUDUSD’s price has gone down 8 them.