AUD/USD Up 9 Pips in Last 4 Hours, 4 Day Up Streak Broken; in a Downtrend Over Past 30 Days

AUD/USD 4 Hour Price Update

Updated March 27, 2020 12:45 AM GMT (08:45 PM EST)

The choppiness in the recent four-hour candle price action of AUD/USD continues; to start the current 4 hour candle, it came in at a price of 0.6075, up 9 pips (0.15%) since the previous 4 hours. Relative to other instruments in the Forex asset class, AUD/USD ranked 8th the previous 4 hours 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 4 day up streak; price ended yesterday down 0 pips (0%) to finish the day at a rate of 0.606. Relative to other instruments in the Forex asset class, AUD/USD ranked 21st yesterday in terms of percentage price change. Here is a price chart of AUD/USD.

AUD/USD Technical Analysis

Coming into today AUD/USD is now close to its 20 day averages, located at 0.6158 respectively, and thus may be at a key juncture along those timeframes. 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 AUD/USD’s price has gone down 8 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDUSD, with 11 buy signals on our radar and 18 sell signals. This imputes a buy/sell ratio of 0.61, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

WAITNG FOR THE BREAK OUT. POTENTIAL COUNTER TREND IF WE CAN HOLD THE TRENDLINE. OTHERWISE, LOOKING FOR SHORTS.