AUD/USD Down 12 Pips On Hourly Chart, Moves Up For the 2nd Day In A Row; in an Uptrend Over Past 30 Days
Relative to other instruments in the forex asset class, audusd ranked 5th the previous day in terms of percentage price change.
(Last Updated January 18, 2021)
Hello! This is the news page for AUDUSD. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
---|---|---|---|---|---|---|---|
Australia HIA New Home Sales MoM | Dec 2020 | Australian Dollar | AUD | 2021-01-19 | 00:00 GMT | ||
United States Foreign Bond Investment | Nov 2020 | US Dollar | USD | 2021-01-19 | 21:00 GMT | ||
United States Net Long-Term Tic Flows | Nov 2020 | US Dollar | USD | 2021-01-19 | 21:00 GMT | ||
United States Overall Net Capital Flows | Nov 2020 | US Dollar | USD | 2021-01-19 | 21:00 GMT | ||
Australia Westpac Consumer Confidence Change | Jan 2021 | Australian Dollar | AUD | 2021-01-19 | 23:30 GMT |
If we observe the 90, 30 and 14 day timeframes, we see an uptrend in place for AUDUSD.
The moving averages on AUDUSD indicate a trend that is clearly bullish.
Below is a chart showing AUDUSD’s price with its moving averages.
Regarding AUDUSD’s correlations over the past 7 days, it has been most correlated with AUDJPY. If we zoom out to a two week basis, though, the asset showing the strongest correlation to AUDUSD is EURNZD. On the flip side, the asset least correlated with AUDUSD over the past week has been GBPCHF, but over the past two weeks, EURJPY has been the asset least correlated with AUDUSD. See the chart below to observe the recent price action in AUDUSD versus those of assets it hasn’t been well correlated with.
.
At the moment, AUDUSD’s rate is down -65 pips (-0.83%) from the week prior. AUDUSD has seen its price go up 8 out of the past 10 weeks, thus creating some compelling opportunities for bulls. 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 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 AUDUSD’s price action over the past year.
Strongest trend on the 120 month timeframe.
Relative to other instruments in the forex asset class, audusd ranked 5th the previous day in terms of percentage price change.
This is a reversal of the price action on the previous hour, in which price moved up.
Of note is that the 20 hour changed directions on audusd; it is now pointing up.
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.
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.
This is the 3rd straight hour audusd has seen its price head up.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
This is a reversal of the price action on the previous hour, in which price moved up.