AUD/USD Up 3 Pips On Hourly Chart, Entered Today Up For the 4th Consecutive Day; Breaks Above 20 and 50 Day Averages

Hourly Update

(Last Updated September 13, 2022 1:37 GMT)

Currently, AUDUSD’s rate is up 3 pips (0.05%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as AUDUSD has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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)

AUDUSD is up 51 pips (0.74%) since yesterday (opening today near 0.68941), marking the 4th consecutive day an upward move has occurred. Out of the 39 instruments in the Forex asset class, AUDUSD ended up ranking 9th for the day in terms of price change. Here is a price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: AUDUSD crossed above its 20 and 50 day moving averages yesterday. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days AUDUSD’s price has gone up 8 them.