AUD/USD Up 3 Pips On 4 Hour Chart, Moves Up For the 3rd Day In A Row; in an Uptrend Over Past 14 Days
As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern.
AUDUSD
(Last Updated August 6, 2020)
Welcome to the news page for AUDUSD (AUDUSD). 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, 30 and 14 day timeframes, we see an uptrend in place for AUDUSD.
AUDUSD Moving Averages
Across several time periods between 20 and 200 days, the trend on AUDUSD has remained consistently bullish.
The chart below illustrates.
In terms of correlations over the past week for AUDUSD, it has been most correlated with EURUSD. Over the past 14 days, however, the asset showing the strongest correlation to AUDUSD is USDNOK. Alternatively, EURJPY has been the asset least correlated with AUDUSD — but if we observe the prior two weeks, the asset least correlated with AUDUSD has been EURSEK. The chart below illustrates AUDUSD against its least correlated assets.
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The View From the Weekly Timeframe
Currently, AUDUSD’s rate is up 0.0057 (0.8%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as AUDUSD has now gone up 5 of the past 5 weeks. 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 bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. AUDUSD’s weekly price action over the past 52 weeks can be seen via the chart below.
AUD/USD Up 3 Pips in Last 4 Hours; Moves Up For the 3rd Day In A Row
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up.
AUD/USD Down 15 Pips in Last 4 Hours, Came Into Today Up For the 3rd Day In A Row; in an Uptrend Over Past 30 Days
So we move down to the 4hr tf we can see a rising wedge which is also evident on the 1d tf which gives us more approval on our bias and now we move to the 1hr tf and a descending triangle is evident here which makes me go short on this but i’m waiting for a break of the triangle and a retest….
AUD/USD Up 8 Pips in Last 4 Hours, Came Into Today Up For the 2nd Day In A Row; in an Uptrend Over Past 30 Days
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.
AUD/USD Up 12 Pips On 4 Hour Chart, Underperforms All Forex; Entered Today Down For the 2nd Day In A Row
This imputes a buy/sell ratio of 0.7, which is bearish.
AUD/USD Down 11 Pips in Last 4 Hours; in an Uptrend Over Past 30 Days
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.
AUD/USD Up 2 Pips Over Past 4 Hours, Came Into Today Up For the 7th Day In A Row; in an Uptrend Over Past 90 Days
As for the rationale, technical traders seem to be citing the appearance of channel and trendline technical patterns.
AUD/USD Down 9 Pips Over Past 4 Hours, 5 Day Up Streak Broken; in an Uptrend Over Past 90 Days
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
AUD/USD Up 6 Pips in Last 4 Hours, Moves Up For the 5th Day In A Row; in an Uptrend Over Past 14 Days
This imputes a buy/sell ratio of 0.3, which is bearish.
AUD/USD Up 10 Pips Over Past 4 Hours, 2 Day Up Streak Snapped; in an Uptrend Over Past 90 Days
This imputes a buy/sell ratio of 1.6, which is bullish.