AUDCHF Down 2 Pips On Hourly Chart, Entered Today Down For the 3rd Consecutive Day; Eyes 20 Day Average

Hourly Update

(Last Updated April 30, 2021 4:14 GMT)

At the time of this writing, AUDCHF’s rate is down -2 pips (-0.02%) from the hour prior. The hourly chart shows that AUDCHF has seen 3 straight down hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDCHF. Given that we see downtrend on the 20 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 20, 50, 100 and 200 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 21 pips (0.3%) since the previous day (opening today near 0.70681), marking the 3rd consecutive day a decrease has occurred. Out of the 39 instruments in the Forex asset class, AUDCHF ended up ranking 36th for the day in terms of price change. The price chart of AUDCHF below illustrates.

AUDCHF

AUDCHF Technical Analysis

Notably, the current price of AUDCHF 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. 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 29.8 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 10 days AUDCHF’s price has gone down 7 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for AUDCHF; just 0 sell signals and 2 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s take that with a grain of salt. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hello Everyone, if you like the idea kindly support us with a like and followHere is our update analysis for the AUDCHF pair on H4 timeframe Feel free to share your opinion Thank you & good luck