EURAUD Up 22 Pips in Last Hour, 2 Day Up Streak Ended; Nears 50 Day Moving Average

Hourly Update

(Last Updated April 9, 2021 3:17 GMT)

Currently, EURAUD’s rate is up 22 pips (0.14%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 and 50 hour moving averages, resulting in them so that price is now turning above them. 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 choppiness in the recent daily price action of EURAUD continues; to start today, it came in at a price of 1.55613, down 32 pips (0.2%) since the day prior. Out of the 39 instruments in the Forex asset class, EURAUD ended up ranking 23rd for the day in terms of price change. The price chart of EURAUD below illustrates.

EURAUD

EURAUD Technical Analysis

The first thing we should note is that EURAUD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving down 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.