AUD/USD Down 1 Pips Over Past 4 Hours, Moves Up For the 5th Day In A Row; Eyes 20 Day Average

AUD/USD 4 Hour Price Update

Updated July 02, 2020 01:13 AM GMT (09:13 PM EST)

AUD/USD is down 1 pips (0.01%) since the previous 4 hours (opening the current 4 hour candle near 0.6913), marking the 2nd candle in a row it has gone down. Out of the 37 instruments in the Forex asset class, AUD/USD ended up ranking 17th for the four-hour candle in terms of price change.

AUD/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/USD is up 4 pips (0.05%) since the previous day (opening today near 0.69172), marking the 5th day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, AUD/USD ranked 11th the previous day in terms of percentage price change. Below is a price chart of AUD/USD.

AUD/USD Technical Analysis

Coming into today AUD/USD is now close to its 20 day averages, located at 0.6885 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 20 day average, which is 31.7 pips away. Volatility for AUD/USD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. For additional context, note that price has gone up 9 out of the past 14 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDUSD, with 15 buy signals on our radar and 13 sell signals. This imputes a buy/sell ratio of 1.15, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

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