AUD/USD Down 9 Pips Over Past 4 Hours, 5 Day Up Streak Broken; in an Uptrend Over Past 90 Days

AUD/USD 4 Hour Price Update

Updated July 30, 2020 01:08 AM GMT (09:08 PM EST)

The back and forth price flow continues for AUD/USD, which started the current 4 hour candle off at 0.7172, down 9 pips 0.13% from the previous 4 hours. Compared to its peers in the Forex, AUD/USD gave its buyers a return that ranked 32nd in terms of percentage change since the previous 4 hours.

AUD/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/USD, which opened today priced near 0.71775, is down 10 pips 0.13% since yesterday, marking a reversal from the day prior — and the end of a 5 day positive run. Compared to its peers in the Forex, AUD/USD gave its buyers a return that ranked 37th in terms of percentage change since yesterday. Below is a price chart of AUD/USD.

AUD/USD

AUD/USD Technical Analysis

Coming into today the current price of AUD/USD is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days AUD/USD’s price has gone up 20 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDUSD, with 18 buy signals on our radar and 21 sell signals. This imputes a buy/sell ratio of 0.86, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a relative strength index technical pattern. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

AUD/USD appears to be on track to test the 2019 high (0.7295) as the Relative Strength Index (RSI) climbs into overbought territory for the fourth time this year.