(Last Updated May 9, 2022 1:34 GMT)
At the time of this writing, AUDCHF’s rate is down -24 pips (-0.34%) 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. 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 12 pips (0.17%) since the previous day (opening today near 0.69915), marking the 2nd consecutive day a decrease has occurred. Out of the 39 instruments in the Forex asset class, AUDCHF ended up ranking 29th for the day in terms of price change. The price chart of AUDCHF below illustrates.
AUDCHF Technical Analysis
The first thing we should note is that AUDCHF is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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. Or to simplify this another way, note that out of the past 14 days AUDCHF’s price has gone up 7 them.