AUDUSD Down 5 Pips On Hourly Chart, Crosses 50 Day Moving Average; Price Base in Formation Over Past 90 Days
Of note is that the 100 hour changed directions on audusd; it is now pointing down.
AUDUSD
(Last Updated April 15, 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:
Forex Calendar for AUDUSD
| 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% |
| United States Philadelphia Fed Manufacturing Index | Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 42 | 50.2 |
| United States NY Empire State Manufacturing Index | Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 19.5 | 26.3 |
The Trend
A trend/countertrend situation exists on AUDUSD, in which an uptrend exists on shorter timeframes but a downtrend appears on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.
AUDUSD Moving Averages
The moving averages on AUDUSD summarize its price action in an interesting way. The 100 and 200 day averages are pointing upwards, suggesting a bullish trend, 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 NZDUSD. NZDUSD is the asset with which AUDUSD has been most correlated with over the past two weeks as well, so this may be a structural correlation in the market. Alternatively, TRYJPY has been the asset least correlated with AUDUSD — but if we observe the prior two weeks, EURNZD 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.
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The View From the Weekly Timeframe
At the moment, AUDUSD’s rate is up 106 pips (1.39%) from the week prior. Moreover, note that this is the 2nd straight week AUDUSD has seen its price head up. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 5, 10 and 20 week timeframes. 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. AUDUSD’s weekly price action over the past 52 weeks can be seen via the chart below.
AUDUSD: The Monthly View
Strongest trend on the 120 month timeframe.
AUDUSD Down 4 Pips in Last Hour, 3 Day Up Streak Broken; Doji and Pin Bar Patterns Appearing on Chart
With that said, traders should also note the downtrend on the 10 hourly candle timeframe, so the meaning of the candles may require further exploration.
AUDUSD Up 5 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Price Base in Formation Over Past 90 Days
Relative to other instruments in the forex asset class, audusd ranked 13th the previous day in terms of percentage price change.
AUDUSD Up 4 Pips in Last Hour, Came Into Today Up For the 2nd Straight Day; Crosses 50 and 100 Day Moving Averages
It’s been a feast for bulls operating on an hourly timeframe, as audusd has now gone up 4 of the past 5 hours.
AUDUSD Up 4 Pips in Last Hour, Price Base in Formation Over Past 90 Days; is Inching Close to 50 and 100 Day Averages
Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
AUDUSD Down 1 Pips in Last Hour, Entered Today Down For the 2nd Consecutive Day; Nears 20, 50 and 100 Day Moving Averages
Of note is that the 20 hour changed directions on audusd; it is now pointing down.
AUDUSD Up 3 Pips On Hourly Chart, 2 Day Up Streak Ended; Price Base in Formation Over Past 30 and 90 Days
Also of note is that on the 30 and 90 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
AUDUSD Down 1 Pips On Hourly Chart, Came Into Today Up For the 2nd Day In A Row; Price Base in Formation Over Past 90 Days
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
AUD/USD Down 2 Pips On Hourly Chart, in a Downtrend Over Past 14 Days; Price Base in Formation Over Past 90 Days
The closest is the 100 day average, which is 4.8 pips away.
AUDUSD Up 2 Pips On Hourly Chart, Outperforms All Forex; Price Base in Formation Over Past 90 Days
Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.