AUDUSD Up 1 Pips in Last Hour, Moves Up For the 3rd Day In A Row; in an Uptrend 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.
(Last Updated March 4, 2021)
Welcome to the news page for AUDUSD (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 Balance of Trade | Jan 2021 | Australian Dollar | AUD | 2021-03-04 | 00:30 GMT | A$6.5B | A$10.142B |
Australia Retail Sales MoM Final | Jan 2021 | Australian Dollar | AUD | 2021-03-04 | 00:30 GMT | 0.6% | 0.5% |
Australia RBA Kearns Speech | NA | Australian Dollar | AUD | 2021-03-04 | 03:25 GMT | ||
United States Continuing Jobless Claims | 20/Feb 2021 | US Dollar | USD | 2021-03-04 | 13:30 GMT | 4300K | |
United States Jobless Claims 4-week Average | Feb/27 2021 | US Dollar | USD | 2021-03-04 | 13:30 GMT |
On AUDUSD, there is currently an uptrend on the 90 and 30 day timeframes.
AUDUSD’s moving averages suggest the trend on a number of time horizons is bullish.
The chart below illustrates.
Regarding AUDUSD’s correlations over the past 7 days, it has demonstrated the strongest correlation with NZDJPY. Over the past 14 days, however, AUDCAD is the asset most correlated to AUDUSD. On the flip side, the asset least correlated with AUDUSD over the past week has been EURJPY, but over the past two weeks, the asset least correlated with AUDUSD has been USDHKD. The chart below illustrates AUDUSD against its least correlated assets.
.
At the moment, AUDUSD’s rate is up 52 pips (0.68%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as AUDUSD has now gone up 4 of the past 5 weeks. If you’re a trend trader, consider that the strongest clear trend on the weekly chart 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. AUDUSD’s weekly price action over the past 52 weeks can be seen via the chart below.
Monthly trend: strongest on the 24 month timeframe.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up.
Relative to other instruments in the forex asset class, audusd ranked 11th the previous day in terms of percentage price change.
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.
It’s been a feast for bears operating on an hourly timeframe, as audusd has now gone down 4 of the past 5 hours.
It’s been a feast for bears operating on an hourly timeframe, as audusd has now gone down 4 of the past 5 hours.
This is the 2nd consecutive hour audusd has seen its price head up.
Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe.
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up.