AUDCAD Down 1 Pips On Hourly Chart, Moves Down For the 3rd Straight Day; Crosses 20 Day Moving Average
Relative to other instruments in the forex asset class, audcad ranked 34th the day prior in terms of percentage price change.
AUDCAD
(Last Updated September 18, 2020)
Welcome to the news page for AUDCAD (AUDCAD). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
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.
The chart below illustrates.
Regarding AUDCAD’s correlations over the past 7 days, it has been most correlated with USDCNH. If we zoom out to a two week basis, though, the asset showing the strongest correlation to AUDCAD is USDJPY. Alternatively, the asset least correlated with AUDCAD over the past week has been USDSEK, but if we observe the prior two weeks, the asset least correlated with AUDCAD has been GBPUSD. See the chart below to observe the recent price action in AUDCAD versus those of assets it hasn’t been well correlated with.
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The View From the Weekly Timeframe
At the moment, AUDCAD’s rate is up 0.003 (0.31%) from the week prior. Moreover, note that this is the 2nd straight week AUDCAD has seen its price head up. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. AUDCAD’s weekly price action over the past 52 weeks can be seen via the chart below.
AUDCAD Up 4 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; Eyes 20 Day Average
This move is a reversal from the hour prior, which saw price move down.
AUDCAD Up 2 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; Price Base in Formation Over Past 30 Days
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
AUDCAD Down 0 Pips in Last Hour, 5 Day Up Streak Broken; Doji Pattern Appearing on Chart
Or to simplify this another way, note that out of the past 30 days audcad’s price has gone up 16 them.
AUDCAD Down 6 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; Doji Pattern Appearing on Chart
This imputes a buy/sell ratio of 0.65, which is bearish.
AUDCAD Up 4 Pips in Last Hour, Came Into Today Up For the 3rd Consecutive Day; in an Uptrend Over Past 90 Days
Relative to other instruments in the forex asset class, audcad ranked 9th the day prior in terms of percentage price change.
AUD/CAD Down 6 Pips in Last 4 Hours, 3 Day Down Streak Snapped; is Inching Close to 50 Day Average
As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern.
AUD/CAD Up 7 Pips On 4 Hour Chart, Moves Down For the 3rd Consecutive Day; in an Uptrend Over Past 90 Days
As for the rationale, technical traders seem to be citing the appearance of fibonacci, trendline and triangle technical patterns.
AUD/CAD Down 10 Pips On 4 Hour Chart, 3 Day Up Streak Broken; in an Uptrend Over Past 90 Days
Compared to its peers in the forex, aud/cad gave its buyers a return that ranked 32nd in terms of percentage change since the previous day.
AUD/CAD Down 16 Pips in Last 4 Hours, is Inching Close to 20 Day Average; Doji and Pin Bar Patterns Appearing on Chart
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.