AUDCHF Down 1 Pips in Last Hour, Entered Today Down For the 4th Day In A Row; is Inching Close to 50 Day Average

Hourly Update

(Last Updated September 10, 2021 2:12 GMT)

At the moment, AUDCHF’s rate is down -1 pips (-0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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 and 10 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 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 36 pips (0.53%) since yesterday (opening today near 0.67531), marking the 4th day in a row a decline has happened. Compared to its peers in the Forex, AUDCHF gave its buyers a return that ranked 36th in terms of percentage change since yesterday. Let’s take a look at price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

Notably, AUDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.6692, 0.6747, 0.6865 and 0.6909 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone up 9 out of the past 14 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDCHF, with 2 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0.5, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

AUDCHF Has broken key support, and has done a retest. We anticipate continued downside.