(Last Updated April 28, 2021 2:14 GMT)
At the moment, AUDCHF’s rate is down -1 pips (-0.02%) from the hour prior. This is the 2nd consecutive hour AUDCHF has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on AUDCHF. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
AUDCHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
AUDCHF entered today at 0.71, down 32 pips (0.44%) from yesterday. Relative to other instruments in the Forex asset class, AUDCHF ranked 37th yesterday in terms of percentage price change. The price chart of AUDCHF below illustrates.
AUDCHF Technical Analysis
Moving average crossovers are always interesting, so let’s start there: AUDCHF crossed below its 20 and 50 day moving averages yesterday. 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 7.2 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. Or to simplify this another way, note that out of the past 14 days AUDCHF’s price has gone down 8 them.