AUDCHF Up 7 Pips Over Past Hour, in an Uptrend Over Past 14 Days; Sentiment Suggests Sellers in Charge

Hourly Update

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

Currently, AUDCHF’s rate is up 7 pips (0.1%) from the hour prior. This is the 3rd straight hour AUDCHF has seen its price head up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. 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 is down 14 pips (0.2%) since the previous day (opening today near 0.67929), marking the 2nd straight day a decrease has occurred. Relative to other instruments in the Forex asset class, AUDCHF ranked 31st the previous day in terms of percentage price change. Below is a price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

Coming into today AUDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.6694, 0.6753, 0.6871 and 0.6908 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone up 7 out of the past 10 days.

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 7 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 head and shoulders technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

AUDCHF reaching our target last week with the move lower on Monday and Today.Small hunt during AUD Interest Rates overnight but still sold off nicely.Where price is at the moment expecting any side of the market, will give it some time to move and find its trendOld Analysis – https://www.tradingview.com/chart/AUDCHF/cwB190hZ-AUDCHF-Daily/