AUD/CHF Up 12 Pips On 4 Hour Chart, Came Into Today Down For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart

AUD/CHF 4 Hour Price Update

Updated June 25, 2020 01:14 PM GMT (09:14 AM EST)

The back and forth price flow continues for AUD/CHF, which started the current 4 hour candle off at 0.652, up 12 pips 0.18% from the last 4 hour candle. Compared to its peers in the Forex, AUD/CHF gave its buyers a return that ranked 10th in terms of percentage change since the last 4 hour candle.

AUD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/CHF is down 9 pips (0.13%) since the day prior (opening today near 0.65019), marking the 2nd day in a row a decrease has occurred. Compared to its peers in the Forex, AUD/CHF gave its buyers a return that ranked 38th in terms of percentage change since the day prior. Let’s take a look at price chart of AUD/CHF.

AUD/CHF Technical Analysis

The first thing we should note is that the current price of AUD/CHF is sitting close to its 20, 50 and 200 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 200 day average, which is 55.1 pips away. Volatility for AUD/CHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 6 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDCHF, with 3 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 0.6, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a flag technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Price has breakout the flag pattern.with the gap created on early of the week and the bullish candle after that, the price expected to push up.severals hours ago, a hammer candle strengthen uptrend.entry: 0.6535sl: 0.65 (bottom of the tail)tp: 0.674