AUDCHF Down 0 Pips Over Past Hour, in an Uptrend Over Past 14 Days; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated October 12, 2021 0:12 GMT)

At the moment, AUDCHF’s rate is down 0 pips (-0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar 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. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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)

The back and forth price flow continues for AUDCHF, which started today off at 0.67785, down 14 pips 0.21% from the day prior. Relative to other instruments in the Forex asset class, AUDCHF ranked 28th the day prior in terms of percentage price change. Below is a price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

Coming into today the current price of AUDCHF is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 100 day average, which is 23.6 pips away. It should be noted, though, the 200 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 30 days AUDCHF’s price has gone up 16 them.