AUD/CHF Up 3 Pips Over Past 4 Hours, 3 Day Down Streak Broken; in a Downtrend Over Past 14 Days

AUD/CHF 4 Hour Price Update

Updated June 19, 2020 09:21 AM GMT (05:21 AM EST)

The choppiness in the recent four-hour candle price action of AUD/CHF continues; to start the current 4 hour candle, it came in at a price of 0.6527, up 3 pips (0.05%) since the previous 4 hours. Compared to its peers in the Forex, AUD/CHF gave its buyers a return that ranked 7th in terms of percentage change since the previous 4 hours.

AUD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 3 down days, AUD/CHF snaps its streak, rising 11 pips (0.17%) over the past day to close at an exchange rate of 0.653. Compared to its peers in the Forex, AUD/CHF gave its buyers a return that ranked 3rd in terms of percentage change since the previous day. Here is a price chart of AUD/CHF.

AUD/CHF Technical Analysis

Coming into today the current price of AUD/CHF 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 20 day average, which is 33.2 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 and 30 day timeframes. For additional context, note that price has gone down 7 out of the past 14 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDCHF, with 4 buy signals on our radar and 8 sell signals. This imputes a buy/sell ratio of 0.5, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Signal no.3Sell Aud/Chf @ 0.6513Tp – 0.6440 & 0.6390Resistance around 0.6535