EUR/AUD Down 4 Pips On Hourly Chart, Moves Up For the 2nd Consecutive Day; is Inching Close to 100 Day Average

Hourly Update

(Last Updated September 14, 2022 1:38 GMT)

Currently, EURAUD’s rate is down -4 pips (-0.03%) from the hour prior. EURAUD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. 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)

EURAUD is up 107 pips (0.73%) since the previous day (opening today near 1.48017), marking the 2nd consecutive day an increase has occurred. Compared to its peers in the Forex, EURAUD gave its buyers a return that ranked 12th in terms of percentage change since the previous day. The price chart of EURAUD below illustrates.

EURAUD

EURAUD Technical Analysis

Notably, EURAUD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 30 days EURAUD’s price has gone up 17 them.