EUR/AUD Down 7 Pips in Last Hour, 2 Day Down Streak Ended; is Inching Close to 20 Day Average

Hourly Update

(Last Updated November 17, 2022 1:41 GMT)

At the time of this writing, EURAUD’s rate is down -7 pips (-0.04%) 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. As for the trend on the hourly timeframe, we see the clearest trend 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 entered today at 1.5413, up 96 pips (0.63%) from yesterday. Compared to its peers in the Forex, EURAUD gave its buyers a return that ranked 4th in terms of percentage change since yesterday. Here is a price chart of EURAUD.

EURAUD

EURAUD Technical Analysis

Notably, EURAUD is now close to its 20 and 50 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 20 day average, which is 60.5 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days EURAUD’s price has gone up 15 them.