AUDCHF Up 2 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Price Base in Formation Over Past 14 Days

Hourly Update

(Last Updated June 10, 2021 18:14 GMT)

At the time of this writing, AUDCHF’s rate is up 2 pips (0.03%) from the hour prior. AUDCHF has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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 15 pips (0.22%) since the previous day (opening today near 0.6924), marking the 2nd day in a row it has gone down. Compared to its peers in the Forex, AUDCHF gave its buyers a return that ranked 31st in terms of percentage change since the previous day. Let’s take a look at price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

The first thing we should note is that the current price of AUDCHF is sitting close to its 20, 50, 100 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 36.8 pips away. Volatility for AUDCHF 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. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 14 days AUDCHF’s price has gone down 8 them.