AUD/CHF Price Recap
0.65798 (USD) was the opening price of the day for AUD/CHF, resulting in yesterday being a day in which price moved down 10 pips 0.15% from the day prior. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was up 9.18% from the day prior, but down 9.48% from the same day the week before. Out of the 40 instruments in the Forex asset class, AUD/CHF ended up ranking 23rd for the day in terms of day-over-day price change. Let’s take a look at price chart of AUD/CHF.
AUD/CHF Technical Analysis
Notably, AUD/CHF is now close to its 20, 50 and 100 day averages, located at 0.6569, 0.6671 and 0.6715 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 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. For additional context, note that price has gone up 7 out of the past 14 days.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on AUDCHF, with 15 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 1.36, which is bullish. 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.
KEEP IT SIMPLEBEARISH FLAG ON THE PLAY