AUD/USD Up 7 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; 4 Day Up Streak Broken

Hourly Update

(Last Updated September 14, 2022 1:35 GMT)

Currently, AUDUSD’s rate is up 7 pips (0.11%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDUSD has now gone down 8 of the past 10 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 doji candlestick pattern on AUDUSD. Given that we see downtrend on the 20 and 10 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)

AUDUSD, which opened today priced near 0.67401, is down 154 pips 2.23% since yesterday, marking a reversal from the day prior — and the end of a 4 day positive run. Compared to its peers in the Forex, AUDUSD gave its buyers a return that ranked 38th in terms of percentage change since yesterday. Here is a price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

First things first: AUDUSD crossed below its 20 and 50 day moving averages yesterday. 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 14 days AUDUSD’s price has gone up 8 them.