AUD/CHF Up 6 Pips in Last 4 Hours, Moves Down For the 3rd Day In A Row; in an Uptrend Over Past 90 Days

AUD/CHF 4 Hour Price Update

Updated June 18, 2020 09:09 AM GMT (05:09 AM EST)

A moment of silence, please, for the end of AUD/CHF’s 3 four-hour candle down streak; price ended the previous 4 hours up 6 pips (0.09%) to finish the four-hour candle at a rate of 0.653. Relative to other instruments in the Forex asset class, AUD/CHF ranked 12th the previous 4 hours in terms of percentage price change.

AUD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/CHF is down 10 pips (0.16%) since the previous day (opening today near 0.652), marking the 3rd day in a row a decline has happened. Out of the 40 instruments in the Forex asset class, AUD/CHF ended up ranking 33rd for the day in terms of price change. Below is a price chart of AUD/CHF.

AUD/CHF Technical Analysis

Notably, AUD/CHF is now close to its 20, 50 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 37.2 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. For additional context, note that price has gone down 7 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDCHF, with 8 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 0.8, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Audchf has just broken out of the H1 trendline its been working and retested , we expecting price to drop further with the Aud news coming .Give a like and follow me .