AUD/CHF Down 2 Pips in Last 4 Hours, Makes Big Move Relative to Two Week Trend; in an Uptrend Over Past 90 Days

AUD/CHF 4 Hour Price Update

Updated July 01, 2020 01:06 AM GMT (09:06 PM EST)

AUD/CHF entered the current 4 hour candle at 0.6536, down 2 pips (0.03%) from the last 4 hour candle. Relative to other instruments in the Forex asset class, AUD/CHF ranked 27th the last 4 hour candle in terms of percentage price change.

AUD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 3 up days, AUD/CHF snaps its streak, falling 3 pips (-0.04%) over the past day to close at an exchange rate of 0.6535. Compared to its peers in the Forex, AUD/CHF gave its buyers a return that ranked 20th in terms of percentage change since the day prior. The price chart of AUD/CHF below illustrates.

AUD/CHF Technical Analysis

Coming into today the current price of AUD/CHF is sitting close to its 20, 50 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 0.1 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. 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 up 6 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

Not much in terms quality buy/sell signals we’re seeing for AUDCHF; just 2 sell signals and 3 buy signals. This imputes a buy/sell ratio of 1.5, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a divergence technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Generally uptrend but internal downtrend structure is being tested and coinciding with minor support level. RSI and Internal Downtrend Structure shows positive divergence indicating near reversal.