AUD/CHF Up 4 Pips in Last Hour, Moves Up For the 2nd Consecutive Day; is Inching Close to 20 Day Average

Hourly Update

(Last Updated January 5, 2022 1:37 GMT)

Currently, AUDCHF’s rate is up 4 pips (0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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 is up 25 pips (0.37%) since the day prior (opening today near 0.66363), marking the 2nd consecutive day an upward move has occurred. Out of the 39 instruments in the Forex asset class, AUDCHF ended up ranking 13th for the day in terms of price change. Here 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 and 100 day moving averages, which may act as price barrier for the asset. 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. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 18 out of the past 30 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for AUDCHF; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

From what I can see, price failed to break the resistance area of 0.66700. With that, it also broke through the upwards trend line. For some time, it was consolidating between the resistance area and the support area of 0.66200. Recently, the support was broken, which tells me that that area isn’t as strong anymore. Meaning, if price gives a clean break of the support area, we could be seeing strong bearish momentum.