(Last Updated April 9, 2021 3:14 GMT)
At the moment, AUDCHF’s rate is up 2 pips (0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
AUDCHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
AUDCHF is down 0 pips (0.01%) since yesterday (opening today near 0.70759), marking the 4th day in a row a decline has happened. Compared to its peers in the Forex, AUDCHF gave its buyers a return that ranked 13th in terms of percentage change since yesterday. Here is a price chart of AUDCHF.
AUDCHF Technical Analysis
The first thing we should note is that the current price of AUDCHF is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 17 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!