AUDUSD trades above and below hourly MA as the ups and downs continue today

AUDUSD
AUDUSD mired in a sideways up and down market

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.
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‘s ups and downs continue today with the pair trading above and below its 100/200 hour moving averages in the process. The 100 hour moving averages currently comes in at 0.7498. The 200 hour moving average is at 0.7494. The low for the day was reached in the Asian session at 0.7472. The high for the day came in at 0.7524 near the beginning of the New York session.

For the week the high price was reached on Monday at 0.75394. The low price was on Tuesday at 0.74554. The range of 84 pips is the lowest range for 2022 and the lowest range since the December 26th, 2021 week (holiday week). The lowest range in 2022 was at 107 pips prior to this week. The pair has been confined to a 91 pip trading range for 8 days now.

Buyers and sellers are unsure of the next move given the non-trend nature in the market over the last 8 trading days. However, at some point the next shove will occur sending the pair away from current levels.

Of note for next week, the shove may come on Tuesday as the RBA is scheduled to meet and keep rates unchanged at their policy meeting. However, according to a Reuters poll, the RBA will end its longest easing cycle on record by the end of the third quarter. Some economists see a rate hike as soon as after the federal election in May.

How the current path for rates is portrayed by the RBA given all that is going on in the world now, will be eyed and could lead to the break and run at that time.

For now, the pair remains mired in the range with swings above and below the 100/200 hour MAs as bias defining levels between the extremes.

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