AUD/CHF Down 0 Pips Over Past Hour, in an Uptrend Over Past 14 Days; Social Sentiment Biased Towards Selling

Hourly Update

(Last Updated September 8, 2021 1:42 GMT)

Currently, AUDCHF’s rate is down 0 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDCHF has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly 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.

AUDCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDCHF is down 14 pips (0.2%) since the day prior (opening today near 0.67929), marking the 2nd straight day a decrease has occurred. Compared to its peers in the Forex, AUDCHF gave its buyers a return that ranked 31st in terms of percentage change since the day prior. Let’s take a look at price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

Coming into today AUDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.6694, 0.6753, 0.6871 and 0.6908 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 30 days AUDCHF’s price has gone up 17 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDCHF, with 0 buy signals on our radar and 7 sell signals. This imputes a buy/sell ratio of 0, which is quite bearish. As for the rationale, technical traders seem to be citing the appearance of head and shoulders technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

AUDCHF reaching our target last week with the move lower on Monday and Today.Small hunt during AUD Interest Rates overnight but still sold off nicely.Where price is at the moment expecting any side of the market, will give it some time to move and find its trendOld Analysis – https://www.tradingview.com/chart/AUDCHF/cwB190hZ-AUDCHF-Daily/