(Last Updated April 27, 2021 2:13 GMT)
Currently, AUDCHF’s rate is down -2 pips (-0.04%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDCHF has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDCHF. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 10 hourly candle timeframe, so the meaning of the candles may require further exploration. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 up 55 pips (0.78%) since the previous day (opening today near 0.71317), marking the 2nd consecutive day it has gone up. Compared to its peers in the Forex, AUDCHF gave its buyers a return that ranked 4th in terms of percentage change since the previous day. Below is a price chart of AUDCHF.
AUDCHF Technical Analysis
First things first: AUDCHF crossed above its 20 and 50 day moving averages 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 9.6 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. Or to simplify this another way, note that out of the past 30 days AUDCHF’s price has gone down 18 them.