AUD/USD Up 6 Pips in Last Hour, 2 Day Down Streak Snapped; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated September 23, 2022 1:36 GMT)

Currently, AUDUSD’s rate is up 6 pips (0.09%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDUSD. Given that we see an uptrend 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)

The back and forth price flow continues for AUDUSD, which started today off at 0.66449, up 34 pips 0.52% from yesterday. Relative to other instruments in the Forex asset class, AUDUSD ranked 8th yesterday in terms of percentage price change. The price chart of AUDUSD below illustrates.

AUDUSD

AUDUSD Technical Analysis

Coming into today AUDUSD is now close to its 20 day averages, located at 0.6773 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days AUDUSD’s price has gone up 15 them.