AUDCAD Down 0 Pips in Last Hour, 2 Day Down Streak Ended; is Inching Close to 20 Day Average
Compared to its peers in the forex, audcad gave its buyers a return that ranked 10th in terms of percentage change since yesterday.
AUDCAD
(Last Updated March 2, 2021)
Welcome to the news page for AUDCAD (AUDCAD). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for AUDCAD
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Australia Building Permits MoM Prel | Jan 2021 | Australian Dollar | AUD | 2021-03-02 | 00:30 GMT | -3% | -19.4% |
| Australia Current Account | Q4 2020 | Australian Dollar | AUD | 2021-03-02 | 00:30 GMT | A$13.1B | A$14.5B |
| Australia RBA Interest Rate Decision | NA | Australian Dollar | AUD | 2021-03-02 | 03:30 GMT | 0.1% | 0.1% |
| Canada GDP Implicit Price QoQ | Q4 2020 | Canadian Dollar | CAD | 2021-03-02 | 13:30 GMT | ||
| Canada GDP MoM | Dec 2020 | Canadian Dollar | CAD | 2021-03-02 | 13:30 GMT | 0.3% |
The Trend
If we observe the 90 and 30 day timeframes, we see an uptrend in place for AUDCAD.
AUDCAD Moving Averages
The moving averages on AUDCAD indicate a trend that is clearly bullish.
Below is a chart showing AUDCAD’s price with its moving averages.
As for assets in the Forex asset class AUDCAD has been correlated to over the past week, it has been most correlated with USDSEK. If we zoom out to a two week basis, though, the asset showing the strongest correlation to AUDCAD is AUDUSD. On the flip side, EURCHF has been the asset least correlated with AUDCAD — but if we observe the prior two weeks, the asset least correlated with AUDCAD has been USDCHF. The chart below illustrates AUDCAD against its least correlated assets.
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The View From the Weekly Timeframe
At the time of this writing, AUDCAD’s rate is up 6 pips (0.06%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as AUDCAD has now gone up 4 of the past 5 weeks. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Looking further out, the moving averages on the weekly 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. The weekly chart below shows AUDCAD’s price action over the past year.
AUDCAD: The Monthly View
Strongest trend on the 24 month timeframe.
AUDCAD Down 0 Pips in Last Hour, Entered Today Down For the 2nd Day In A Row; Nears 20 Day Moving Average
This is a reversal of the price action on the previous hour, in which price moved up.
AUDCAD Down 1 Pips in Last Hour, 2 Day Up Streak Snapped; in an Uptrend Over Past 90 Days
Relative to other instruments in the forex asset class, audcad ranked 24th the day prior in terms of percentage price change.
AUDCAD Down 1 Pips in Last Hour, Moves Up For the 2nd Consecutive Day; Eyes 20 Day Average
Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
AUDCAD Up 0 Pips On Hourly Chart, Price Base in Formation Over Past 14 Days; Nears 20 Day Moving Average
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
AUDCAD Up 1 Pips On Hourly Chart, Moves Up For the 3rd Straight Day; in an Uptrend Over Past 90 Days
Relative to other instruments in the forex asset class, audcad ranked 12th the day prior in terms of percentage price change.
AUDCAD Up 6 Pips in Last Hour, Entered Today Up For the 2nd Day In A Row; Breaks Above 20 Day Average
This is a reversal of the price action on the previous hour, in which price moved down.
AUDCAD Down 5 Pips Over Past Hour, Moves Up For the 2nd Day In A Row; in an Uptrend Over Past 90 Days
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up.
AUDCAD Up 18 Pips Over Past Hour, Price Base in Formation Over Past 30 Days; is Inching Close to 50 Day Average
For additional context, note that price has gone up 16 out of the past 30 days.
AUDCAD Down 0 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Eyes 50 Day Average
It’s been a feast for bulls operating on an hourly timeframe, as audcad has now gone up 4 of the past 5 hours.