AUD/CHF 4 Hour Price Update
Updated July 31, 2020 05:11 AM GMT (01:11 AM EST)
The choppiness in the recent four-hour candle price action of AUD/CHF continues; to start the current 4 hour candle, it came in at a price of 0.6533, down 12 pips (0.18%) since the last 4 hour candle. Out of the 37 instruments in the Forex asset class, AUD/CHF ended up ranking 27th 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 down 1 pips (0.01%) since the day prior (opening today near 0.65382), marking the 4th day in a row a decrease has occurred. Out of the 40 instruments in the Forex asset class, AUD/CHF ended up ranking 27th for the day in terms of price change. Below is a price chart of AUD/CHF.
AUD/CHF Technical Analysis
The first thing we should note is that AUD/CHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 7 out of the past 10 days. 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
We’re seeing some traders come out with interesting conviction on AUDCHF, with 0 buy signals on our radar and 6 sell 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 channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Previously i made post about AUD/CHF going up, after price bounced off trend-line, but all it did was accumulate at the bottom of the channel and currently broke out of it, expecting price to drop