AUDCHF Up 7 Pips On Hourly Chart, Came Into Today Down For the 5th Straight Day; Sentiment Strongly Favors Sellers

Hourly Update

(Last Updated March 26, 2021 1:14 GMT)

Currently, AUDCHF’s rate is up 7 pips (0.1%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDCHF. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 50 hour changed directions on AUDCHF; it is now pointing up. 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 8 pips (0.11%) since the previous day (opening today near 0.71021), marking the 5th straight day a decrease has occurred. Compared to its peers in the Forex, AUDCHF gave its buyers a return that ranked 20th in terms of percentage change since the previous day. Here is a price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

Coming into today the current price of AUDCHF is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for AUDCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 9 out of the past 14 days.