AUD/CHF Down 5 Pips Over Past Hour, 4 Day Down Streak Snapped; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated April 28, 2022 1:36 GMT)

Currently, 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 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)

A moment of silence, please, for the end of AUDCHF’s 4 day down streak; price ended the previous day up 29 pips (0.43%) to finish the day at a rate of 0.69001. Compared to its peers in the Forex, AUDCHF gave its buyers a return that ranked 10th in terms of percentage change since the previous day. 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 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 50 day average, which is 37.6 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 10 days AUDCHF’s price has gone down 6 them.