EUR/AUD Up 9 Pips in Last Hour, in a Downtrend Over Past 30 Days; Nears 20 Day Moving Average

Hourly Update

(Last Updated August 5, 2022 1:40 GMT)

At the time of this writing, EURAUD’s rate is up 9 pips (0.06%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as EURAUD has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 choppiness in the recent daily price action of EURAUD continues; to start today, it came in at a price of 1.4697, up 68 pips (0.46%) since the previous day. Compared to its peers in the Forex, EURAUD gave its buyers a return that ranked 10th in terms of percentage change since the previous day. Here 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 46.3 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 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days EURAUD’s price has gone up 5 them.