(Last Updated September 22, 2022 1:38 GMT)
At the moment, EURAUD’s rate is up 14 pips (0.09%) from the hour prior. This is the 2nd straight hour EURAUD has seen its price head up. Regarding the trend, note that the strongest trend exists on the 100 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 1.4836, down 67 pips (0.45%) from the day prior. Compared to its peers in the Forex, EURAUD gave its buyers a return that ranked 23rd in terms of percentage change since the day prior. The price chart of EURAUD below illustrates.
EURAUD Technical Analysis
Moving average crossovers are always interesting, so let’s start there: EURAUD crossed below its 100 day moving average yesterday. 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 9.2 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. 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. For additional context, note that price has gone up 7 out of the past 14 days.