(Last Updated September 15, 2021 1:12 GMT)
At the moment, AUDCHF’s rate is down -1 pips (-0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. 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)
A moment of silence, please, for the end of AUDCHF’s 5 day down streak; price ended the day prior up 45 pips (0.66%) to finish the day at a rate of 0.67947. Compared to its peers in the Forex, AUDCHF gave its buyers a return that ranked 2nd in terms of percentage change since the day prior. The price chart of AUDCHF below illustrates.
AUDCHF Technical Analysis
The first thing we should note is that 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. Trend traders will want to observe that the strongest trend appears on the 14 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 90 day timeframe. For additional context, note that price has gone up 5 out of the past 10 days. Also, candlestick traders! Note we see morning star pattern appearing here as well.