AUDCHF Up 5 Pips On Hourly Chart, 2 Day Down Streak Ended; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated June 1, 2021 2:14 GMT)

Currently, AUDCHF’s rate is up 5 pips (0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being above it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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)

The choppiness in the recent daily price action of AUDCHF continues; to start today, it came in at a price of 0.6958, up 25 pips (0.36%) since the day prior. Compared to its peers in the Forex, AUDCHF gave its buyers a return that ranked 4th in terms of percentage change since the day prior. Here is a price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

Coming into today AUDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.7001, 0.7065, 0.7032 and 0.6827 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 42.8 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 9 out of the past 14 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for AUDCHF; just 1 sell signals and 1 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com that we thought you might enjoy.