EUR/AUD Up 2 Pips Over Past Hour; Crosses 20 Day Moving Average

Hourly Update

(Last Updated November 23, 2021 1:39 GMT)

At the moment, EURAUD’s rate is up 2 pips (0.01%) from the hour prior. The hourly chart shows that EURAUD has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 choppiness in the recent daily price action of EURAUD continues; to start today, it came in at a price of 1.5553, down 38 pips (0.25%) since the previous day. Out of the 39 instruments in the Forex asset class, EURAUD ended up ranking 35th for the day in terms of price change. Let’s take a look at price chart of EURAUD.

EURAUD

EURAUD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURAUD crossed below 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 26.7 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 16 out of the past 30 days.