AUD/CHF Down 40 Pips On 4 Hour Chart, Came Into Today Up For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart

AUD/CHF 4 Hour Price Update

Updated March 31, 2020 01:11 PM GMT (09:11 AM EST)

AUD/CHF, which opened the current 4 hour candle priced near 0.5893, is down 40 pips 0.67% since the previous 4 hours, marking a reversal from the candle prior — and the end of a 3 four-hour candle positive run. Out of the 40 instruments in the Forex asset class, AUD/CHF ended up ranking 37th for the four-hour candle in terms of price change.

AUD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/CHF is up 1 pips (0.01%) since the previous day (opening today near 0.5913), marking the 2nd day in a row it has gone up. Relative to other instruments in the Forex asset class, AUD/CHF ranked 24th the previous day in terms of percentage price change. Let’s take a look at price chart of AUD/CHF.

AUD/CHF Technical Analysis

The first thing we should note is that AUD/CHF is now close to its 20 day averages, located at 0.5846 respectively, and thus may be at a key juncture along those timeframes. Volatility for AUD/CHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed up. For additional context, note that price has gone up 7 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDCHF, with 6 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a double top technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Divergence on 15m, double top on price action. TP @ 50% or 61.8% Fib levels of current swing.