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Home ANALYSIS

AUDUSD stays confined in up and down range

A.R Chowdhury by A.R Chowdhury
March 31, 2022
Reading Time: 3 mins read
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AUDUSD

AUDUSD trades between hourly moving averages

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The  AUDUSD 
AUD/USD

The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar (USD) is the world’s most traded currency, resulting in a very liquid pair, with tight spreads, often staying within the 1 pip to 3 pip spread range on most forex brokers. AUD/USD Popular Among Various Types of TradersA lot of traders consider the AUD/USD to perhaps be the most consistent currency pair with respect to swing trading, as it has often moved in steadfast cycles.Having said that, every pair presents its own challenges for traders.The AUD/USD is very popular with swing traders, with the four-hour timeframe being, historically at least, more dependable than others. Historically the AUD/USD is influenced by interest rate differentials, commodity prices, government credit ratings, and overall sentiment and speculation.

The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar (USD) is the world’s most traded currency, resulting in a very liquid pair, with tight spreads, often staying within the 1 pip to 3 pip spread range on most forex brokers. AUD/USD Popular Among Various Types of TradersA lot of traders consider the AUD/USD to perhaps be the most consistent currency pair with respect to swing trading, as it has often moved in steadfast cycles.Having said that, every pair presents its own challenges for traders.The AUD/USD is very popular with swing traders, with the four-hour timeframe being, historically at least, more dependable than others. Historically the AUD/USD is influenced by interest rate differentials, commodity prices, government credit ratings, and overall sentiment and speculation.
Read this Term
continues to fluctuate in up and down trading within the confines of a narrow trading range.

The pair has been trading between 0.74497 and 0.75394 since March 22 (about 7 days of trading). The high price from yesterday stalled near the highs from March 25 and March 28 (see green numbered circles). The low price today stalled ahead of the lower extreme between 0.74497 and 0.7455.

Between the extremes sits the 100 and 200 hour moving averages (blue and green lines in the chart above. The price is currently testing its higher 100 hour moving average at 0.75042. The 200 hour moving average is at 0.74818 currently.

The price action today saw moves above the 100 hour moving average in the Asian session, and moved below the 200 hour moving average in the London/European session, but momentum could not be sustained on either break.

With the price currently trading at 0.7491, between the moving averages, the buyers and sellers await the next shove and momentum move. Move above the 100 hour moving average should have traders looking toward the swing highs up to 0.7539, while a move below the 200 hour moving average should see targets toward 0.7465 and then the swing area down to 0.74497.

Absent a break with momentum, the battle continues with the moving averages as lines in the sand for buyers and sellers..

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A.R Chowdhury

A.R Chowdhury

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