EURAUD Down 5 Pips Over Past Hour; Eyes 20 Day Average

Hourly Update

(Last Updated April 6, 2021 2:17 GMT)

At the time of this writing, EURAUD’s rate is down -5 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning below it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

EURAUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURAUD entered today at 1.54295, down 20 pips (0.13%) from the previous day. Relative to other instruments in the Forex asset class, EURAUD ranked 26th the previous day in terms of percentage price change. Below is a price chart of EURAUD.

EURAUD

EURAUD Technical Analysis

Notably, EURAUD is now close to its 20, 50 and 100 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 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days EURAUD’s price has gone up 9 them.