AUDCHF Down 2 Pips On Hourly Chart, Price Base in Formation Over Past 90 Days; Eyes 20 Day Average

Hourly Update

(Last Updated June 7, 2021 17:14 GMT)

At the moment, AUDCHF’s rate is down -2 pips (-0.03%) from the hour prior. The hourly chart shows that AUDCHF has seen 3 straight down hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning below it. 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)

The choppiness in the recent daily price action of AUDCHF continues; to start today, it came in at a price of 0.69587, up 34 pips (0.49%) since yesterday. Out of the 39 instruments in the Forex asset class, AUDCHF ended up ranking 5th for the day in terms of price change. Below is a price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

The first thing we should note is that AUDCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 20 day average, which is 19.3 pips away. Volatility for AUDCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone down 9 out of the past 14 days. We’re also seeing a bullish engulfing pattern here, and given the downtrend on the 30 day

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for AUDCHF; just 1 sell signals and 1 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

PRICE clear the liquidity last week on the H4 and H1 which we expect price to keep going up after the retest of the liquidity line, then we expect rocket move to the upside.