AUDCHF Up 11 Pips Over Past Hour; Moves Down For the 4th Consecutive Day

Hourly Update

(Last Updated May 3, 2021 2:13 GMT)

Currently, AUDCHF’s rate is up 11 pips (0.15%) from the hour prior. The hourly chart shows that AUDCHF has seen 3 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDCHF. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning above it. 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 28 pips (0.39%) since yesterday (opening today near 0.70402), marking the 4th consecutive day a decrease has occurred. Relative to other instruments in the Forex asset class, AUDCHF ranked 27th yesterday in terms of percentage price change. 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 and 100 day moving averages, which may act as price barrier for the asset. 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 50.9 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. For additional context, note that price has gone down 19 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 0 sell signals and 1 buy signals. Bulls may note that this suggests a buy/sell ratio that is infinite. But, let’s take that with a grain of salt. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Wish you a good hunt !! Dave FX Hunter ⚔