AUDUSD Down 6 Pips On Hourly Chart, Came Into Today Up For the 4th Day In A Row; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated February 16, 2021 23:15 GMT)

At the time of this writing, AUDUSD’s rate is down -6 pips (-0.08%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDUSD has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDUSD. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them so that price is now turning below it. 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 up 25 pips (0.32%) since yesterday (opening today near 0.77882), marking the 4th day in a row it has gone up. Out of the 39 instruments in the Forex asset class, AUDUSD ended up ranking 10th for the day in terms of price change. Here is a price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

Coming into today AUDUSD is now close to its 20 and 50 day averages, located at 0.7691 and 0.7688 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days AUDUSD’s price has gone up 10 them.