AUDCAD Up 10 Pips Over Past Hour, 2 Day Down Streak Snapped; Nears 20 and 200 Day Moving Averages
Price action traders may also wish to note that we see a doji candlestick pattern on audcad.
AUDCAD
(Last Updated April 15, 2021)
Hello! This is the news page for 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 Employment Change | Mar 2021 | Australian Dollar | AUD | 2021-04-15 | 01:30 GMT | 35K | 70.7K |
| Australia Unemployment Rate | Mar 2021 | Australian Dollar | AUD | 2021-04-15 | 01:30 GMT | 5.7% | 5.6% |
| Australia Participation Rate | Mar 2021 | Australian Dollar | AUD | 2021-04-15 | 01:30 GMT | 66.1% | 66.3% |
| Canada Manufacturing Sales MoM | Feb 2021 | Canadian Dollar | CAD | 2021-04-15 | 12:30 GMT | -1% | -1.6% |
| Australia HIA New Home Sales MoM | Mar 2021 | Australian Dollar | AUD | 2021-04-16 | 03:00 GMT |
The Trend
If we observe the 90 and 30 day timeframes, we see a downtrend in place for AUDCAD.
AUDCAD Moving Averages
Nuances in the trend on AUDCAD can be understood by observing the behavior of its moving averages. The 100 and 200 day averages are pointing upwards, suggesting a bullish trend, in contrast to the downward-facing 20 and 50 day averages that imply a bearish trend. This implies that the long-term trend — meaning going back over 3 months — is bullish, while the trend over the past month and a half is bearish.
Below is a chart showing AUDCAD’s price with its moving averages.
Regarding AUDCAD’s correlations over the past 7 days, it has demonstrated the strongest correlation with NZDCAD. AUDCAD has been most correlated with NZDCAD over the past 14 days also, so this may be a recurring pattern. On the flip side, the asset least correlated with AUDCAD over the past week has been USDCHF, but over the past two weeks, CHFJPY has been the asset least correlated with AUDCAD. The chart below illustrates AUDCAD against its least correlated assets.
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The View From the Weekly Timeframe
At the moment, AUDCAD’s rate is up 124 pips (1.3%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved down. As for the trend on the weekly timeframe, we see the clearest trend on the 10 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 60 month timeframe.
AUDCAD Up 1 Pips Over Past Hour, Came Into Today Down For the 2nd Day In A Row; is Inching Close to 20 and 200 Day Averages
Price action traders may also wish to note that we see a pin bar candlestick pattern on audcad.
AUDCAD Down 2 Pips Over Past Hour, 2 Day Up Streak Broken; Bearish Engulfing Pattern Present
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 12 Pips in Last Hour, Crosses 100 Day Moving Average; in an Uptrend Over Past 14 Days
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
AUDCAD Down 2 Pips Over Past Hour; Breaks Above 50 Day Average
Relative to other instruments in the forex asset class, audcad ranked 10th yesterday in terms of percentage price change.
AUDCAD Up 0 Pips Over Past Hour; 4 Day Up Streak Broken
The closest is the 50 day average, which is 53 pips away.
AUDCAD Up 3 Pips Over Past Hour, Came Into Today Up For the 4th Consecutive Day; is Inching Close to 50 and 100 Day Averages
The clearest trend exists on the 30 day timeframe, which shows price moving down over that time.
AUDCAD Down 10 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Came Into Today Up For the 3rd Consecutive Day
Compared to its peers in the forex, audcad gave its buyers a return that ranked 8th in terms of percentage change since yesterday.
AUDCAD Up 4 Pips On Hourly Chart, Entered Today Up For the 2nd Consecutive Day; Doji Pattern Appearing on Chart
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.
AUDCAD Up 2 Pips On Hourly Chart, in a Downtrend Over Past 30 Days; Nears 20 and 200 Day Moving Averages
Volatility for audcad has been contracting over the past two weeks relative to volatility over the past month.