AUDCHF Down 0 Pips Over Past Hour, Came Into Today Down For the 2nd Straight Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated May 31, 2021 2:14 GMT)

At the time of this writing, AUDCHF’s rate is down 0 pips (-0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on AUDCHF. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

AUDCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDCHF is down 11 pips (0.16%) since the previous day (opening today near 0.69329), marking the 2nd straight day a decline has happened. Compared to its peers in the Forex, AUDCHF gave its buyers a return that ranked 31st in terms of percentage change since the previous day. Below is a price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

Notably, AUDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.7007, 0.7069, 0.7031 and 0.6825 respectively, and thus may be at a key juncture along those timeframes. 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 73.6 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 20 out of the past 30 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for AUDCHF; just 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com that we thought you might enjoy.