(Last Updated October 12, 2021 0:13 GMT)
Currently, AUDUSD’s rate is down -2 pips (-0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 down 12 pips (0.16%) since the day prior (opening today near 0.72943), marking the 2nd consecutive day a decline has happened. Relative to other instruments in the Forex asset class, AUDUSD ranked 26th the day prior in terms of percentage price change. Below is a price chart of AUDUSD.
AUDUSD Technical Analysis
First things first: AUDUSD crossed below its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 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 7 them.