AUD/CHF Price Recap
AUD/CHF is down 0.01% since yesterday (with its current price near 0.67404), marking the 2nd day in a row it has gone down. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 9.35% from the day prior, and up 4.7% from the same day the week before. Out of the 40 instruments in the Forex asset class, AUD/CHF ended up ranking 16th for the day in terms of day-over-day price change. Let’s take a look at price chart of AUD/CHF.
AUD/CHF Technical Analysis
Notably, AUD/CHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. Volatility for AUD/CHF has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. 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 day timeframe. Or to simplify this another way, note that out of the past 14 days AUD/CHF’s price has gone down 10 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar
We’re seeing some traders come out with interesting conviction on AUDCHF, with 2 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 0.2, which is quite bearish. As for the rationale, technical traders seem to be citing the appearance ofatrendline technical pattern. Here’s a piece we ; below is a short snippet from it to give you a taste.
If we see the move down Ill be entering long with SL protected by support and trendline.