AUD/USD Up 17 Pips Over Past 4 Hours, 3 Day Up Streak Broken; in a Downtrend Over Past 30 Days

AUD/USD 4 Hour Price Update

Updated March 26, 2020 05:15 AM GMT (01:15 AM EST)

AUD/USD, which opened the current 4 hour candle priced near 0.5919, is up 17 pips 0.29% since the last 4 hour candle, marking a reversal from the candle prior — and the end of a 4 four-hour candle negative run. Relative to other instruments in the Forex asset class, AUD/USD ranked 10th the last 4 hour candle in terms of percentage price change.

AUD/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

A moment of silence, please, for the end of AUD/USD’s 3 day up streak; price ended the previous day down 73 pips (-1.22%) to finish the day at a rate of 0.59. 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 day. Let’s take a look at price chart of AUD/USD.

AUD/USD Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 6 out of the past 10 days.

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 19 sell signals. This imputes a buy/sell ratio of 0.95, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a fibonacci 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 looks poised for a larger recovery as the exchange rate carves a series of higher highs and lows, while the RSI displays a textbook buy signal.