AUD/CHF Down 19 Pips, in a Downtrend Over Past 14 Days; Sentiment Suggests Buyers in Charge

AUD/CHF Price Recap

AUD/CHF is down 19 pips (0.3%) since yesterday (with its current price near 0.6444), marking the 7th day in a row a decrease has occurred. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 0.65% from the day prior, but up 102.98% from the same day the week before. Out of the 40 instruments in the Forex asset class, AUD/CHF ended up ranking 31st for the day in terms of day-over-day price change. The price chart of AUD/CHF below illustrates.

AUD/CHF Technical Analysis

The first thing we should note is that AUD/CHF is now close to its 20 day moving averages, which may act as price barrier for the asset. 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 14 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 down 10 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDCHF, with 17 buy signals on our radar and 1 sell signals. This imputes a buy/sell ratio of 17, which is very bullish. 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.

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