AUD/CHF Up 16 Pips On 4 Hour Chart, in a Downtrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart

AUD/CHF 4 Hour Price Update

Updated March 27, 2020 12:45 AM GMT (08:45 PM EST)

AUD/CHF entered the current 4 hour candle at 0.5844, up 16 pips (0.27%) from the previous 4 hours. Out of the 40 instruments in the Forex asset class, AUD/CHF ended up ranking 3rd for the four-hour candle in terms of price change.

AUD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/CHF entered today at 0.5826, down 11 pips (0.19%) from the day prior. Out of the 40 instruments in the Forex asset class, AUD/CHF ended up ranking 31st for the day in terms of 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 day averages, located at 0.5894 respectively, and thus may be at a key juncture along those timeframes. Volatility for AUD/CHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 8 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDCHF, with 4 buy signals on our radar and 3 sell signals. This imputes a buy/sell ratio of 1.33, which is bullish. 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.

Market had a strong bullish momentum then broke trendline. We see where market then retested trendline after breaking it signaling a change in the bullish to bearish momentum. Looking for a sell now to target level.