AUD/CHF 3 Day Down Streak Broken; in a Downtrend Over Past 14 Days

AUD/CHF Price Recap

AUD/CHF, currently priced near 0.67002, is down 11 pips 0.17% since yesterday, marking a reversal from the day prior — and the end of a 3 day negative run. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 14.37% from the day prior, but up 20.82% from the same day the week before. Relative to other instruments in the Forex asset class, AUD/CHF ranked 29th yesterday in terms of percentage price change. Here is a price chart of AUD/CHF.

AUD/CHF Technical Analysis

The first thing we should note is that AUD/CHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 46.2 pips away. Volatility for AUD/CHF has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days AUD/CHF’s price has gone up 15 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 5 sell signals. This imputes a buy/sell ratio of 1.2, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a divergence technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

AUDCHF is going short after retesting the broken trend + divergence in the 1H time frame as shown in the next imagehttps://www.tradingview.com/x/XRTkVQhW/if you find this idea useful please press like button and leave a comment, thank youGood luck