AUD/USD Up 23 Pips in Last Hour, Outperforms All Forex; 6 Day Down Streak Ended

Hourly Update

(Last Updated November 7, 2022 1:35 GMT)

Currently, AUDUSD’s rate is up 23 pips (0.36%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend 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)

After 6 down days, AUDUSD snaps its streak, rising 179 pips (2.84%) over the past day to close at an exchange rate of 0.64697. AUDUSD outperformed all 39 assets in the Forex asset class the day prior. The price chart of AUDUSD below illustrates.

AUDUSD

AUDUSD Technical Analysis

Notably, AUDUSD crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 17 out of the past 30 days.