EUR/AUD Down 1 Pips in Last Hour, in a Downtrend Over Past 14 Days; is Inching Close to 50 Day Average

Hourly Update

(Last Updated December 30, 2021 1:41 GMT)

Currently, EURAUD’s rate is down -1 pips (-0.01%) from the hour prior. The hourly chart shows that EURAUD has seen 2 straight down hours. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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 1.56468, up 2 pips (0.01%) since yesterday. Out of the 39 instruments in the Forex asset class, EURAUD ended up ranking 26th 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, 100 and 200 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 50 day average, which is 75.2 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 16 out of the past 30 days.