AUD/CHF Price Recap
AUD/CHF is up 38 pips (0.58%) since yesterday (with its current price near 0.65896), marking the 3rd day in a row it has gone up. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 0.44% from the day before — and down 26.27% from the same day the week before. Relative to other instruments in the Forex asset class, AUD/CHF ranked 6th yesterday in terms of percentage price change. Below is a price chart of AUD/CHF.
AUD/CHF Technical Analysis
Notably, AUD/CHF crossed above its 20 day moving average yesterday. 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 up 7 out of the past 14 days.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on AUDCHF, with 10 buy signals on our radar and 7 sell signals. This imputes a buy/sell ratio of 1.43, which is bullish. As for the rationale, technical traders seem to be citing the appearance of channel, head and shoulders and relative strength index technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
If the resistance level is not broken and a reversal candlestick in the smaller timeframes forms expect a possible sell opportunity to the drawn blue TP levels or even up until the end of the channel. Lets see how it goes