(Last Updated May 4, 2021 2:13 GMT)
Currently, AUDCHF’s rate is down 0 pips (-0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 pin bar candlestick pattern on AUDCHF. Given that we see an uptrend 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 100 hour moving average has been crossed, so that price is now turning below 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)
After 4 down days, AUDCHF snaps its streak, rising 32 pips (0.46%) over the past day to close at an exchange rate of 0.70724. Compared to its peers in the Forex, AUDCHF gave its buyers a return that ranked 8th in terms of percentage change since yesterday. Let’s take a look at price chart of AUDCHF.
AUDCHF Technical Analysis
The first thing we should note is that the current price of AUDCHF is sitting close to its 20, 50 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 13.8 pips away. 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 14 and 30 day timeframes, where price is headed down. For additional context, note that price has gone down 6 out of the past 10 days. Moreover, we’re also seeing a bullish engulfing pattern; this may be especially noteworthy in light of the downtrend on the 90, 14 and 30 day charts, as in this context the bullish engulfing candles may indicate the bear trend may be ending.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for AUDCHF; just 2 sell signals and 3 buy signals. This imputes a buy/sell ratio of 1.5, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
AUD – BULLISH1️⃣ The prevalent risk-on mood, further undermined the safe-haven greenback and extended some support to the perceived riskier aussie.CHF – BEARISH1️⃣ Positive risk-tone weighing on the CHF.=====Technical=====- We are buying the AUDCHF at RBS on the M15 chart. This is short term trading strategy from Monsun Asia.- Risk reward ratio is 2:1.=====Risk to this trade=====Any change in sentiment could turn the pair’s direction.