EUR/AUD Up 14 Pips On Hourly Chart; Crosses 20 Day Moving Average

Hourly Update

(Last Updated June 17, 2022 1:38 GMT)

Currently, EURAUD’s rate is up 14 pips (0.09%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. 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)

The back and forth price flow continues for EURAUD, which started today off at 1.4972, up 66 pips 0.44% from the previous day. Out of the 39 instruments in the Forex asset class, EURAUD ended up ranking 17th for the day in terms of price change. Let’s take a look at price chart of EURAUD.

EURAUD

EURAUD Technical Analysis

Notably, EURAUD crossed above its 20 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 20 day average, which is 8.4 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days EURAUD’s price has gone up 7 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURAUD; just 3 sell signals and 3 buy signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a supply zone technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

the price fail to break support and respect demande zone.My target is supply zone 1.52000.If you apperciate my idea , Please don´t forget like and support guysGood luck every one.Any quetions contact me.