AUDCHF Up 1 Pips in Last Hour, Entered Today Down For the 2nd Consecutive Day; Eyes 20 Day Average

Hourly Update

(Last Updated April 29, 2021 2:14 GMT)

Currently, AUDCHF’s rate is up 1 pips (0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. 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)

AUDCHF is down 11 pips (0.15%) since yesterday (opening today near 0.70893), marking the 2nd consecutive day it has gone down. Relative to other instruments in the Forex asset class, AUDCHF ranked 22nd yesterday in terms of percentage price change. Let’s take a look at price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

Coming into today AUDCHF is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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 13.9 pips away. 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. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 10 days AUDCHF’s price has gone down 6 them.