AUD/CHF Down 5 Pips On Hourly Chart, 2 Day Down Streak Broken; Crosses 20 Day Moving Average

Hourly Update

(Last Updated August 2, 2022 1:34 GMT)

At the moment, AUDCHF’s rate is down -5 pips (-0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. 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)

The choppiness in the recent daily price action of AUDCHF continues; to start today, it came in at a price of 0.6655, up 18 pips (0.27%) since the day prior. Out of the 39 instruments in the Forex asset class, AUDCHF ended up ranking 13th for the day in terms of price change. Below is a price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: AUDCHF crossed above its 20 day moving average yesterday. 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 7.9 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 6 out of the past 10 days.