AUD/USD Down 0 Pips Over Past Hour, in a Downtrend Over Past 30 Days; Eyes 100 Day Average
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down.
AUDUSD
(Last Updated October 19, 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
A trend/countertrend situation exists on AUDUSD, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 day timeframe. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.
AUDUSD Moving Averages
Nuances in the trend on AUDUSD can be understood by observing the behavior of its moving averages. The 100 and 200 day averages suggest a bullish trend, as they are pointing upwards, while the 20 and 50 day averages are pointing downward, suggesting a bearish trend on those timeframes. Ultimately, this suggests a bearish trend on shorter timeframes, compared to a bullish trend when observing more than 3 months of data.
The chart below illustrates.
In terms of correlations over the past week for AUDUSD, it has demonstrated the strongest correlation with USDNOK. Over the past 14 days, however, the asset showing the strongest correlation to AUDUSD is AUDJPY. On the flip side, the asset least correlated with AUDUSD over the past week has been EURCAD, but if we observe the prior two weeks, the asset least correlated with AUDUSD has been USDTRY. The chart below illustrates AUDUSD against its least correlated assets.
.
The View From the Weekly Timeframe
At the moment, AUDUSD’s rate is down -0.0163 (-2.25%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. As for the trend on the weekly timeframe, we see the clearest trend on the 20 week timeframe. Most noteworthy in the world of moving averages on the weekly chart is that the 20 week moving average has been crossed, with price now being below it. 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. The weekly chart below shows AUDUSD’s price action over the past year.
AUDUSD: The Monthly View
Strongest trend on the 60 month timeframe.
AUDUSD Down 2 Pips Over Past Hour, Entered Today Down For the 3rd Consecutive Day; is Inching Close to 100 Day Average
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
AUDUSD Up 6 Pips Over Past Hour, Crosses 100 Day Moving Average; in an Uptrend Over Past 90 Days
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.
AUDUSD Down 1 Pips in Last Hour, Underperforms All Forex; Makes Big Move Relative to Two Week Trend
Given that we see downtrend on the 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
AUDUSD Down 4 Pips Over Past Hour, 2 Day Down Streak Broken; Pin Bar Pattern Appearing on Chart
The closest is the 20 day average, which is 2.8 pips away.
AUDUSD Up 2 Pips in Last Hour, Crosses 20 Day Moving Average; in an Uptrend Over Past 14 Days
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.
AUDUSD Down 26 Pips On Hourly Chart, 3 Day Up Streak Broken; in an Uptrend Over Past 90 Days
It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe.
AUDUSD Down 5 Pips in Last Hour, Moves Up For the 3rd Consecutive Day; in an Uptrend Over Past 90 Days
It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe.
AUDUSD Down 2 Pips On Hourly Chart, Came Into Today Up For the 2nd Day In A Row; in a Downtrend Over Past 30 Days
This move is a reversal from the hour prior, which saw price move up.
AUDUSD Down 2 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; Sentiment Strongly Favors Sellers
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.