EUR/AUD Up 13 Pips On Hourly Chart; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated July 13, 2022 1:37 GMT)

At the time of this writing, EURAUD’s rate is up 13 pips (0.09%) from the hour prior. EURAUD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend 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 entered today at 1.4848, down 62 pips (0.42%) from the previous day. Compared to its peers in the Forex, EURAUD gave its buyers a return that ranked 34th in terms of percentage change since the previous day. Let’s take a look at price chart of EURAUD.

EURAUD

EURAUD Technical Analysis

Notably, EURAUD is now close to its 20, 50 and 100 day averages, located at 1.5094, 1.5025 and 1.4949 respectively, and thus may be at a key juncture along those timeframes. 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 100 day average, which is 100.6 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. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 10 days EURAUD’s price has gone down 7 them.