AUD/CHF Up 13 Pips in Last 4 Hours, Makes Big Move Relative to Two Week Trend; Came Into Today Up For the 3rd Day In A Row

AUD/CHF 4 Hour Price Update

Updated June 30, 2020 09:10 PM GMT (05:10 PM EST)

AUD/CHF is up 13 pips (0.2%) since the last 4 hour candle (opening the current 4 hour candle near 0.6538), marking the 2nd candle in a row an increase has occurred. Out of the 37 instruments in the Forex asset class, AUD/CHF ended up ranking 7th for the four-hour candle in terms of price change.

AUD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/CHF is up 13 pips (0.2%) since the previous day (opening today near 0.65378), marking the 3rd day in a row an increase has occurred. Compared to its peers in the Forex, AUD/CHF gave its buyers a return that ranked 3rd in terms of percentage change since the previous day. Below is a price chart of AUD/CHF.

AUD/CHF Technical Analysis

Notably, AUD/CHF is now close to its 20, 50 and 200 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 6.7 pips away. Volatility for AUD/CHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Also of note is that on a 30 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 30 days AUD/CHF’s price has gone up 16 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDCHF, with 9 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 1.5, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Generally uptrend but internal downtrend structure is being tested and coinciding with minor support level. RSI and Internal Downtrend Structure shows positive divergence indicating near reversal.