AUD/CHF Down 5 Pips On Hourly Chart, Entered Today Down For the 2nd Day In A Row; Crosses 20 Day Moving Average

Hourly Update

(Last Updated January 7, 2022 1:35 GMT)

At the moment, AUDCHF’s rate is down -5 pips (-0.07%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as AUDCHF has now gone up 4 of the past 5 hours. 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 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 19 pips (0.29%) since the day prior (opening today near 0.66055), marking the 2nd day in a row it has gone down. Out of the 39 instruments in the Forex asset class, AUDCHF ended up ranking 24th for the day in terms of price change. The price chart of AUDCHF below illustrates.

AUDCHF

AUDCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: 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 down. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 10 days AUDCHF’s price has gone down 7 them.

The View From Around the Web

Not much commentary on AUDCHF that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Correction occured on this pair with a rejection to the downside.