AUD/CHF Down 5 Pips in Last 4 Hours, Moves Up For the 2nd Day In A Row; Price Base in Formation Over Past 14 Days

AUD/CHF 4 Hour Price Update

Updated June 26, 2020 01:10 PM GMT (09:10 AM EST)

AUD/CHF is down 5 pips (0.08%) since the last 4 hour candle (opening the current 4 hour candle near 0.6518), marking the 3rd candle in a row a decline has happened. Out of the 37 instruments in the Forex asset class, AUD/CHF ended up ranking 21st for the four-hour candle in terms of price change.

AUD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/CHF is up 3 pips (0.05%) since the day prior (opening today near 0.65348), marking the 2nd day in a row an upward move has occurred. Compared to its peers in the Forex, AUD/CHF gave its buyers a return that ranked 10th in terms of percentage change since the day prior. Here is a price chart of AUD/CHF.

AUD/CHF Technical Analysis

Notably, AUD/CHF is now close to its 20, 50 and 200 day moving averages, which may act as price barrier for the asset. 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 34.9 pips away. Volatility for AUD/CHF 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. 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. Or to simplify this another way, note that out of the past 14 days AUD/CHF’s price has gone up 6 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for AUDCHF; just 1 sell signals and 0 buy 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 a triangle technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Price just broke out of an uptrend and has retested it. Currently, it has made a triangle pattern and is sitting on a support zone. So, we re expecting a break of the support zone to confirm price movement to the downside.