EUR/AUD Up 14 Pips in Last Hour, 3 Day Up Streak Ended; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated August 2, 2022 1:37 GMT)

At the time of this writing, EURAUD’s rate is up 14 pips (0.1%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. 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)

After 3 up days, EURAUD snaps its streak, falling 25 pips (-0.17%) over the past day to close at an exchange rate of 1.4601. Compared to its peers in the Forex, EURAUD gave its buyers a return that ranked 24th in terms of percentage change since yesterday. Below is a price chart of EURAUD.

EURAUD

EURAUD Technical Analysis

Notably, the current price of EURAUD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 189.9 pips away. Volatility for EURAUD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. Or to simplify this another way, note that out of the past 30 days EURAUD’s price has gone down 18 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!