(Last Updated April 23, 2021 2:15 GMT)
Currently, AUDUSD’s rate is up 4 pips (0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. 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)
The choppiness in the recent daily price action of AUDUSD continues; to start today, it came in at a price of 0.77035, down 51 pips (0.66%) since the day prior. Compared to its peers in the Forex, AUDUSD gave its buyers a return that ranked 31st in terms of percentage change since the day prior. Let’s take a look at price chart of AUDUSD.
AUDUSD Technical Analysis
Notably, AUDUSD crossed below its 50 and 100 day moving averages yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 50 day average, which is 0.6 pips away. 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 6 out of the past 10 days.