AUDCHF Up 1 Pips Over Past Hour, Eyes 20 Day Average; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated September 14, 2020 23:12 GMT)

Currently, AUDCHF’s rate is up 1 pips (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. 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 entered today at 0.66161, up 9 pips (0.13%) from the previous day. Compared to its peers in the Forex, AUDCHF gave its buyers a return that ranked 15th in terms of percentage change since the previous day. The price chart of AUDCHF below illustrates.

AUDCHF

AUDCHF Technical Analysis

Notably, 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 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days AUDCHF’s price has gone up 9 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDCHF, with 6 buy signals on our radar and 14 sell signals. This imputes a buy/sell ratio of 0.43, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

We see an elliot triangle, and triangles mean thrust so lets ride the wave 🌊


Forex Frank is a forex analyst and market commentator with nearly two decades of experience in currency trading. Follow him on social media: Facebook | Twitter | Instagram