AUD/CHF Up 7 Pips in Last Hour, Moves Down For the 3rd Day In A Row; Price Base in Formation Over Past 14 Days

Hourly Update

(Last Updated December 15, 2021 1:40 GMT)

At the moment, AUDCHF’s rate is up 7 pips (0.1%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 50 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 down 11 pips (0.17%) since the previous day (opening today near 0.65666), marking the 3rd day in a row it has gone down. Compared to its peers in the Forex, AUDCHF gave its buyers a return that ranked 29th in terms of percentage change since the previous day. The price chart of AUDCHF below illustrates.

AUDCHF

AUDCHF Technical Analysis

The first thing we should note is that the current price of AUDCHF is sitting close to its 20 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 51.9 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 14 days AUDCHF’s price has gone down 9 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for AUDCHF; just 2 sell signals and 2 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Go long above high of prev candle….TGT as shown…RRR 1:1