AUD/USD Up 3 Pips Over Past Hour, 4 Day Up Streak Snapped; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated October 5, 2020 16:21 GMT)

At the time of this writing, AUDUSD’s rate is up 0.0003 (0.04%) 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. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

AUDUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 4 up days, AUDUSD snaps its streak, falling 22 pips (-0.3%) over the past day to close at an exchange rate of 0.71607. Out of the 40 instruments in the Forex asset class, AUDUSD ended up ranking 30th for the day in terms of price change. Let’s take a look at price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

Notably, the current price of AUDUSD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 20 day average, which is 40.4 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. For additional context, note that price has gone down 6 out of the past 10 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDUSD, with 8 buy signals on our radar and 22 sell signals. This imputes a buy/sell ratio of 0.36, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

***Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied….I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied….Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.