AUD/CHF Up 18 Pips Over Past 4 Hours, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

AUD/CHF 4 Hour Price Update

Updated June 29, 2020 09:10 PM GMT (05:10 PM EST)

AUD/CHF is up 18 pips (0.28%) since the last 4 hour candle (opening the current 4 hour candle near 0.6531), marking the 2nd candle in a row an upward move has occurred. For context, observe that the last 4 hour candle were noteworthy in the sense that AUD/CHF bested all 37 of the assets in the Forex class.

AUD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for AUD/CHF, which started today off at 0.65074, up 3 pips 0.04% from yesterday. Relative to other instruments in the Forex asset class, AUD/CHF ranked 14th yesterday in terms of percentage price change. Here is a price chart of AUD/CHF.

AUD/CHF Technical Analysis

Coming into today the current price of AUD/CHF is sitting close to its 20, 50 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 54.5 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 16 them. Also, candlestick traders! Note we see pin bar pattern 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 6 sell signals. This imputes a buy/sell ratio of 1.17, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

AUDCHF Broken the trendline and its in Downtrend.Its Rejected from Resistance Level and Expecting Continue Downside Move.