AUD/CHF Down 33 Pips; in a Downtrend Over Past 90 Days

AUD/CHF Price Recap

AUD/CHF enters today at 0.60819 in US dollars, down 33 pips (0.53%) from the day prior. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 28.72% from the day prior, but up 34.33% from the same day the week before. Out of the 40 instruments in the Forex asset class, AUD/CHF ended up ranking 27th for the day in terms of day-over-day price change. The price chart of AUD/CHF below illustrates.

AUD/CHF Technical Analysis

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 11 out of the past 14 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDCHF, with 1 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0.25, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a wedge technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

ok so now on my analysis i see braodening wedge.the first move would be itll touch the upper line of the wedge and there we will see if it breaks the wedge or comes back down for another bounce….if it breaks the wedge itll retest the wedge and and bounced away.i.e buy….please make sure before you take trade do your analysis n also start with smaller lots.