AUD/USD 4 Hour Price Update
Updated July 21, 2020 09:07 AM GMT (05:07 AM EST)
The back and forth price flow continues for AUD/USD, which started the current 4 hour candle off at 0.7047, up 24 pips 0.34% from the last 4 hour candle. Compared to its peers in the Forex, AUD/USD gave its buyers a return that ranked 2nd in terms of percentage change since the last 4 hour candle.
AUD/USD End of Day Recap
Updated 00:30 GMT (04:30 EST)
AUD/USD is up 6 pips (0.09%) since the previous day (opening today near 0.7022), marking the 4th day in a row an increase has occurred. Compared to its peers in the Forex, AUD/USD gave its buyers a return that ranked 5th in terms of percentage change since the previous day. Here is a price chart of AUD/USD.
AUD/USD Technical Analysis
Coming into today AUD/USD 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 20 day average, which is 64.5 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 8 out of the past 14 days.
The View From Around the Web
Of note is that traders in aggregate have opinions on AUDUSD, with 8 buy signals on our radar and 13 sell signals. This imputes a buy/sell ratio of 0.62, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a divergence technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Remember my strategy, buy Audusd because of this divergence