AUDCHF Down 4 Pips in Last Hour, in a Downtrend Over Past 30 Days; Price Base in Formation Over Past 90 Days

Hourly Update

(Last Updated June 7, 2021 3:13 GMT)

At the time of this writing, AUDCHF’s rate is down -4 pips (-0.06%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDCHF has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Of note is that the 100 hour changed directions on AUDCHF; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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)

The back and forth price flow continues for AUDCHF, which started today off at 0.69587, up 34 pips 0.49% from the previous day. Relative to other instruments in the Forex asset class, AUDCHF ranked 5th the previous day in terms of percentage price change. Here is a price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

Notably, the current price of AUDCHF is sitting close to its 20, 50, 100 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 19.3 pips away. Volatility for AUDCHF 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 30 day horizon; over that time period, price has been moving down. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 14 days AUDCHF’s price has gone down 9 them. Moreover, we’re also seeing a bullish engulfing pattern; this may be especially noteworthy in light of the downtrend on the 30 day charts, as in this context the bullish engulfing candles may indicate the bear trend may be ending.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for AUDCHF; just 1 sell signals and 1 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

PRICE clear the liquidity last week on the H4 and H1 which we expect price to keep going up after the retest of the liquidity line, then we expect rocket move to the upside.