EURAUD Down 9 Pips Over Past Hour, in an Uptrend Over Past 14 Days; is Inching Close to 200 Day Average

Hourly Update

(Last Updated October 27, 2020 2:16 GMT)

At the moment, EURAUD’s rate is down -9 pips (-0.05%) from the hour prior. This is the 2nd consecutive hour EURAUD has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

EURAUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for EURAUD, which started today off at 1.65774, down 27 pips 0.16% from yesterday. Out of the 40 instruments in the Forex asset class, EURAUD ended up ranking 30th for the day in terms of price change. The price chart of EURAUD below illustrates.

EURAUD

EURAUD Technical Analysis

Coming into today EURAUD is now close to its 20, 50, 100 and 200 day averages, located at 1.6485, 1.6388, 1.6369 and 1.6653 respectively, and thus may be at a key juncture along those timeframes. 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 200 day average, which is 75.8 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days EURAUD’s price has gone up 8 them.