(Last Updated January 12, 2021 2:15 GMT)
At the time of this writing, AUDUSD’s rate is up 1 pips (0.02%) from the hour prior. This is the 3rd straight hour AUDUSD has seen its price head up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Of note is that the 20 hour changed directions on AUDUSD; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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)
AUDUSD is down 71 pips (0.91%) since the previous day (opening today near 0.76956), marking the 3rd consecutive day it has gone down. Relative to other instruments in the Forex asset class, AUDUSD ranked 38th the previous day in terms of percentage price change. The price chart of AUDUSD below illustrates.
AUDUSD Technical Analysis
Notably, the current price of AUDUSD is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 17 out of the past 30 days.