AUD/CHF Down 0 Pips in Last 4 Hours, 4 Day Down Streak Broken; Pin Bar Pattern Appearing on Chart

AUD/CHF 4 Hour Price Update

Updated June 22, 2020 01:08 PM GMT (09:08 AM EST)

The back and forth price flow continues for AUD/CHF, which started the current 4 hour candle off at 0.6539, down 0 pips 0% from the previous 4 hours. Compared to its peers in the Forex, AUD/CHF gave its buyers a return that ranked 19th in terms of percentage change since the previous 4 hours.

AUD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 4 down days, AUD/CHF snaps its streak, rising 0 pips (0.01%) over the past day to close at an exchange rate of 0.6509. Compared to its peers in the Forex, AUD/CHF gave its buyers a return that ranked 20th in terms of percentage change since the day prior. Below is a price chart of AUD/CHF.

AUD/CHF Technical Analysis

The first thing we should note is that AUD/CHF is now close to its 20, 50 and 200 day averages, located at 0.6568, 0.6408 and 0.6453 respectively, and thus may be at a key juncture along those timeframes. 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 200 day average, which is 56.4 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 and 30 day timeframes. Or to simplify this another way, note that out of the past 10 days AUD/CHF’s price has gone down 6 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDCHF, with 0 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0, which is quite bearish. As for the rationale, technical traders seem to be citing the appearance of trendline and triangle technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

The Analysis -Price have been moving in an uptrend respecting the support trendline-Price broke trendline and made a retestWe will be anticipating the price to drop to around 0,64629