AUDCHF Down 8 Pips Over Past Hour, Entered Today Down For the 2nd Consecutive Day; Price Base in Formation Over Past 14 and 30 Days

Hourly Update

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

Currently, AUDCHF’s rate is down -8 pips (-0.11%) 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. 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 37 pips (0.51%) since the day prior (opening today near 0.71332), marking the 2nd consecutive day a decline has happened. Out of the 39 instruments in the Forex asset class, AUDCHF ended up ranking 27th for the day in terms of price change. Here is a price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

First things first: AUDCHF crossed below its 20 day moving average yesterday. 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. Also of note is that on the 14 and 30 day bases 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 10 days AUDCHF’s price has gone up 5 them.