AUD/CHF Heads Down For the 4th Day In A Row, Crosses 20 Day Moving Average; in a Downtrend Over Past 90 Days

AUD/CHF Price Recap

AUD/CHF is down 57 pips (0.87%) since yesterday (with its current price near 0.65081), marking the 4th day in a row a decrease has occurred. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 52.11% from the day prior, and up 18% from the same day the week before. Out of the 40 instruments in the Forex asset class, AUD/CHF ended up ranking 39th for the day in terms of day-over-day price change. The price chart of AUD/CHF below illustrates.

AUD/CHF Technical Analysis

First things first: AUD/CHF crossed below its 20 day moving average yesterday. 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 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 18 out of the past 30 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDCHF, with 3 buy signals on our radar and 14 sell signals. This imputes a buy/sell ratio of 0.21, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a wedge technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

• Trendline broken and retested• forming new lower highs and lows• AUD still bearish overall• Trading under the H4 and D1 200EMA• Swing short setup