AUD/CHF Down 6 Pips On Hourly Chart, Underperforms All Forex; Came Into Today Down For the 2nd Straight Day

Hourly Update

(Last Updated September 22, 2021 1:45 GMT)

Currently, AUDCHF’s rate is down -6 pips (-0.08%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDCHF has now gone down 12 of the past 14 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDCHF. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 60 pips (0.89%) since the previous day (opening today near 0.66733), marking the 2nd straight day it has gone down. It may be worth observing that AUDCHF was the worst performer of the 39 members in the Forex asset class over the past day. Here is a price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

First things first: AUDCHF crossed below its 50 day moving average yesterday. 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 51.3 pips away. It should be noted, though, the 200 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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 8 out of the past 14 days.