AUDCHF Up 2 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Bearish Engulfing Pattern Present

Hourly Update

(Last Updated April 23, 2021 2:13 GMT)

At the time of this writing, AUDCHF’s rate is up 2 pips (0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists 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 downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 entered today at 0.70648, down 43 pips (0.61%) from the previous day. Relative to other instruments in the Forex asset class, AUDCHF ranked 27th the previous day in terms of percentage price change. Here is a price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

Notably, AUDCHF is now close to its 20, 50 and 100 day averages, located at 0.7115, 0.7115 and 0.6953 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 30 days AUDCHF’s price has gone down 19 them. We’re also seeing a bearish engulfing pattern form over the past two candles, which suggests the uptrend on the 90 and 30 day

The View From Around the Web

Not much commentary on AUDCHF that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com that we thought you might enjoy.