AUD/CHF Down 11 Pips, in a Downtrend Over Past 90 Days; is Inching Close to 20 Day Average

AUD/CHF Price Recap

AUD/CHF is down 11 pips (0.16%) since yesterday (with its current price near 0.65739), marking the 2nd day in a row a decline has happened. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was up 62.41% from the day prior, but down 24.82% from the same day the week before. Relative to other instruments in the Forex asset class, AUD/CHF ranked 26th yesterday in terms of percentage 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 0.656, 0.6661 and 0.6712 respectively, and thus may be at a key juncture along those timeframes. Related to the moving average crossover is that AUD/CHF may have broken its trend on the 14 day basis, as the trend’s momentum appears to be slowing down. Volatility for AUD/CHF has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days AUD/CHF’s price has gone up 7 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDCHF, with 6 buy signals on our radar and 15 sell signals. This imputes a buy/sell ratio of 0.4, which is bearish. As for the rationale, technical traders seem to be citing the appearance of divergence, flag, trendline and wedge technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Rising wedge, Change of structure,Head and Shoulders and Bearish Flag Formation