EURAUD Down 9 Pips Over Past Hour, 6 Day Up Streak Ended; is Inching Close to 20 and 50 Day Averages

Hourly Update

(Last Updated March 26, 2021 23:18 GMT)

At the time of this writing, EURAUD’s rate is down -9 pips (-0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURAUD. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)

EURAUD, which opened today priced near 1.55067, is down 59 pips 0.38% since the day prior, marking a reversal from the day prior — and the end of a 6 day positive run. Out of the 39 instruments in the Forex asset class, EURAUD ended up ranking 37th for the day in terms of price change. Let’s take a look at price chart of EURAUD.

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. For additional context, note that price has gone up 6 out of the past 10 days.