AUDCHF Up 1 Pips Over Past Hour, Breaks Above 20 Day Average; Sentiment Strongly Favors Sellers

Hourly Update

(Last Updated March 31, 2021 0:14 GMT)

At the moment, AUDCHF’s rate is up 1 pips (0.02%) 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 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. 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)

AUDCHF entered today at 0.71706, up 36 pips (0.5%) from the day prior. Out of the 39 instruments in the Forex asset class, AUDCHF ended up ranking 11th for the day in terms of price change. Let’s take a look at price chart of AUDCHF.

AUDCHF

AUDCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: AUDCHF crossed above its 20 day moving average yesterday. 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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 14 days AUDCHF’s price has gone down 8 them.