AUD/CHF Down 0 Pips Over Past Hour, Makes Big Move Relative to Past Month; Price Base in Formation Over Past 14 Days

Hourly Update

(Last Updated May 10, 2022 1:35 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 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on AUDCHF. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 80 pips (1.15%) since the day prior (opening today near 0.69114), marking the 3rd straight day a decline has happened. Compared to its peers in the Forex, AUDCHF gave its buyers a return that ranked 34th in terms of percentage change since the day prior. The price chart of AUDCHF below illustrates.

AUDCHF

AUDCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: AUDCHF crossed below its 20 and 50 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 17 out of the past 30 days.