AUD/USD 4 Hour Price Update
Updated August 03, 2020 05:11 AM GMT (01:11 AM EST)
The back and forth price flow continues for AUD/USD, which started the current 4 hour candle off at 0.7136, down 11 pips 0.15% from the last 4 hour candle. Relative to other instruments in the Forex asset class, AUD/USD ranked 33rd the last 4 hour candle in terms of percentage price change.
AUD/USD End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of AUD/USD continues; to start today, it came in at a price of 0.71373, down 6 pips (0.08%) since the day prior. Out of the 40 instruments in the Forex asset class, AUD/USD ended up ranking 35th for the day in terms of price change. The price chart of AUD/USD below illustrates.
AUD/USD Technical Analysis
Coming into today AUD/USD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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 10 days AUD/USD’s price has gone up 7 them.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on AUDUSD, with 16 buy signals on our radar and 9 sell signals. This imputes a buy/sell ratio of 1.78, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a divergence technical pattern. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.
AUD/USD trades near the 2020 high (0.7227) ahead of the Reserve Bank of Australia (RBA) rate decision, while the RSI threatens the upward trend established in July.