AUD/CHF Up 13 Pips, in an Uptrend Over Past 14 Days; Eyes 20 Day Average

AUD/CHF Price Recap

AUD/CHF enters today at 0.65929 in US dollars, up 13 pips (0.2%) from the day prior. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 34.48% from the day before — and down 44.37% from the same day the week before. Relative to other instruments in the Forex asset class, AUD/CHF ranked 7th yesterday in terms of percentage price change. 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 100 day averages, located at 0.6566, 0.6668 and 0.6714 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 and 30 day timeframes, where price is headed down. Or to simplify this another way, note that out of the past 30 days AUD/CHF’s price has gone down 17 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDCHF, with 17 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 1.55, which is bullish. As for the rationale, technical traders seem to be citing the appearance of channel, head and shoulders and relative strength index technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

AUDCHF formed inverted Head & Shoulder pattern on h1 framePrice broke downtrendlineSupported on neckline at level 0.6580Pair is above Moving Average 100MACD shows bullish momentumRSI is in uptrendIt’s expected for coming strong bullish wave to target supply zone at level 0.6813 as a target of inverted head and shoulders pattern