AUD/CHF Moves Down For the 5th Day In A Row; in a Downtrend Over Past 90 Days

AUD/CHF Price Recap

AUD/CHF is down 27 pips (0.42%) since yesterday (with its current price near 0.6481), marking the 5th day in a row it has gone down. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 5.48% from the day prior, but up 12.02% from the same day the week before. Out of the 40 instruments in the Forex asset class, AUD/CHF ended up ranking 35th for the day in terms of day-over-day price change. Below is a price chart of AUD/CHF.

AUD/CHF Technical Analysis

Notably, AUD/CHF is now close to its 20 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. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days AUD/CHF’s price has gone down 8 them.

A final note on correlations: over the past 7 days, AUD/CHF has been most correlated with AUD/USD — not terribly surprising, given that AUD is in both currency pairs. Alternatively, regarding pairs with the lowest correlation to AUD/CHF? Well, look no further than EUR/AUD if you’re focused on just this past week, or USD/MXN for a look at a broader, two week window.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDCHF, with 2 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0.5, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

pair might be ready to rise further.trade with care use an SL