(Last Updated September 17, 2021 1:16 GMT)
Currently, EURAUD’s rate is up 11 pips (0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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)
The back and forth price flow continues for EURAUD, which started today off at 1.61038, down 23 pips 0.14% from the day prior. Out of the 39 instruments in the Forex asset class, EURAUD ended up ranking 21st for the day in terms of price change. Below is a price chart of EURAUD.
EURAUD Technical Analysis
Coming into today EURAUD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 8 out of the past 14 days.