AUDUSD Up 14 Pips in Last Hour; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated September 30, 2021 2:13 GMT)

At the time of this writing, AUDUSD’s rate is up 14 pips (0.19%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as AUDUSD has now gone up 5 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 20 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. 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 entered today at 0.72634, up 8 pips (0.12%) from yesterday. Relative to other instruments in the Forex asset class, AUDUSD ranked 12th yesterday in terms of percentage price change. Let’s take a look at price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

The first thing we should note is that AUDUSD is now close to its 20, 50 and 100 day averages, located at 0.7328, 0.7317 and 0.7428 respectively, and thus may be at a key juncture along those timeframes. 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 53.3 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 down. Or to simplify this another way, note that out of the past 10 days AUDUSD’s price has gone down 6 them.