(Last Updated July 2, 2020)
Hello! This is the news page for AUDCHF. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
For AUDCHF, we have to zoom out to the 90 day timeframe and beyond to see a clear trend; at that point, a clear uptrend becomes apparent.
AUDCHF’s moving averages tell a multi-facted story about its trend. The 50 and 100 day averages suggest a bullish trend, as they are pointing upwards, in contrast to the downward-facing 20 and 200 day averages that imply a bearish trend.
The chart below illustrates.
Regarding AUDCHF’s correlations over the past 7 days, it has demonstrated the strongest correlation with USDCAD. If we zoom out to a two week basis, though, NZDUSD is the asset most correlated to AUDCHF. On the flip side, EURSEK has been the asset least correlated with AUDCHF — but if we observe the prior two weeks, USDJPY has been the asset least correlated with AUDCHF. See the chart below to observe the recent price action in AUDCHF versus those of assets it hasn’t been well correlated with.
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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 clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
The closest is the 20 day average, which is 0.1 pips away.
As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern.
Or to simplify this another way, note that out of the past 30 days aud/chf’s price has gone up 16 them.
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
Currently, it has made a triangle pattern and is sitting on a support zone.
Volatility for aud/chf has been contracting over the past two weeks relative to volatility over the past month.
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.
As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern.