AUD/CHF Down 6 Pips in Last Hour, in a Downtrend Over Past 30 Days; Eyes 20 Day Average

Hourly Update

(Last Updated July 13, 2022 1:34 GMT)

Currently, AUDCHF’s rate is down -6 pips (-0.09%) from the hour prior. AUDCHF has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDCHF. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 10 hourly candle timeframe, so the meaning of the candles may require further exploration. 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)

The choppiness in the recent daily price action of AUDCHF continues; to start today, it came in at a price of 0.6623, up 11 pips (0.17%) since yesterday. Out of the 39 instruments in the Forex asset class, AUDCHF ended up ranking 9th for the day in terms of price change. Let’s take a look at price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

Coming into today the current price of AUDCHF is sitting close to its 20 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 28 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. 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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 8 out of the past 14 days.