AUDCHF Down 3 Pips On Hourly Chart, in a Downtrend Over Past 30 Days; Price Base in Formation Over Past 90 Days

Hourly Update

(Last Updated June 3, 2021 4:14 GMT)

At the time of this writing, AUDCHF’s rate is down -3 pips (-0.05%) from the hour prior. AUDCHF has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them so that price is now turning below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

AUDCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDCHF entered today at 0.69562, up 1 pips (0.01%) from the previous day. Compared to its peers in the Forex, AUDCHF gave its buyers a return that ranked 18th in terms of percentage change since the previous day. Below is a price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

The first thing we should note is that AUDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.699, 0.7059, 0.7034 and 0.6831 respectively, and thus may be at a key juncture along those timeframes. 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 34.1 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. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 30 days AUDCHF’s price has gone down 19 them. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.