AUDUSD Up 2 Pips in Last Hour, Moves Up For the 2nd Day In A Row; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated February 19, 2021 23:15 GMT)

At the time of this writing, AUDUSD’s rate is up 2 pips (0.02%) from the hour prior. The hourly chart shows that AUDUSD has seen 2 straight up 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 pin bar 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

AUDUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDUSD is up 17 pips (0.22%) since the previous day (opening today near 0.77694), marking the 2nd day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, AUDUSD ranked 13th the previous day 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 and 50 day moving averages, which may act as price barrier for the asset. 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 72.8 pips away. 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 11 out of the past 14 days.