AUD/CHF Down 5 Pips On Hourly Chart, Moves Down For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated December 28, 2021 1:38 GMT)

Currently, AUDCHF’s rate is down -5 pips (-0.07%) from the hour prior. The hourly chart shows that AUDCHF has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 2 pips (0.04%) since the previous day (opening today near 0.66376), marking the 2nd day in a row a decrease has occurred. Out of the 39 instruments in the Forex asset class, AUDCHF ended up ranking 30th for the day in terms of price change. Here is a price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

The first thing we should note is that the current price of AUDCHF is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for AUDCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Or to simplify this another way, note that out of the past 10 days AUDCHF’s price has gone down 6 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for AUDCHF; just 0 sell signals and 2 buy signals. Bulls may note that this suggests a buy/sell ratio that is infinite. But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

the AUDchf we have a bullish bias, break of structure to the uptrend on the 5 minutes time frame, and mitigation of IFC candle