AUDCHF Down 0 Pips On Hourly Chart, 6 Day Up Streak Snapped; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated September 8, 2021 0:12 GMT)

At the moment, 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 an uptrend on the 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, which opened today priced near 0.68067, is down 5 pips 0.07% since yesterday, marking a reversal from the day prior — and the end of a 6 day positive run. Out of the 39 instruments in the Forex asset class, AUDCHF ended up ranking 22nd for the day in terms of price change. Below is a price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

The first thing we should note is that AUDCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Price action traders in particular will want to note that the 30 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 up 8 out of the past 10 days.