AUD/CHF Down 6 Pips in Last 4 Hours, in an Uptrend Over Past 90 Days; is Inching Close to 20 Day Average

AUD/CHF 4 Hour Price Update

Updated June 24, 2020 01:14 PM GMT (09:14 AM EST)

AUD/CHF is down 6 pips (0.09%) since the last 4 hour candle (opening the current 4 hour candle near 0.6534), marking the 3rd candle in a row a decrease has occurred. Relative to other instruments in the Forex asset class, AUD/CHF ranked 25th the last 4 hour candle in terms of percentage price change.

AUD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/CHF entered today at 0.65533, up 7 pips (0.11%) from the day prior. Relative to other instruments in the Forex asset class, AUD/CHF ranked 7th the day prior in terms of percentage price change. Let’s take a look at 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 29.6 pips away. 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. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days AUD/CHF’s price has gone up 17 them. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDCHF, with 7 buy signals on our radar and 7 sell signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a flag technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Price has breakout the flag pattern.with the gap created on early of the week and the bullish candle after that, the price expected to push up.severals hours ago, a hammer candle strengthen uptrend.entry: 0.6535sl: 0.65 (bottom of the tail)tp: 0.674