AUD/CHF 2 Day Up Streak Ended, in a Downtrend Over Past 90 Days; Nears 20 Day Moving Average

AUD/CHF Price Recap

AUD/CHF enters today at 0.65846 in US dollars, down 8 pips (0.13%) from the day prior. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 31.39% from the day before — and down 50.15% from the same day the week before. Out of the 40 instruments in the Forex asset class, AUD/CHF ended up ranking 29th for the day in terms of day-over-day price change. Below is a price chart of AUD/CHF.

AUD/CHF Technical Analysis

Notably, the current price of AUD/CHF is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Related to the moving average crossover is that AUD/CHF’s momentum/trend on a 30 day basis may be decelerating. Volatility for AUD/CHF has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 14 day timeframe. Or to simplify this another way, note that out of the past 30 days AUD/CHF’s price has gone down 17 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDCHF, with 6 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 0.55, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

AUDCHF has met my requirements for a CYPHER Harmonic Pattern – Divergence on the 15min timeframe is giving confluence with the trade – Smaller pattern so the profits are short between 100-200 points As always if you found this idea helpful, please let me know by hitting that like button and/or leaving me a comment below….Also feel free to share your opinion on this setup, or other setups that you have on your radar for the AUDCHF….The more ideas we can generate the more informative these ideas become for newer traders.