(Last Updated July 7, 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:
A trend/countertrend situation exists on AUDCHF, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 and 14 day timeframes. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
The moving averages on AUDCHF summarize its price action in an interesting way. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 200 are bullish, suggesting the trend is generally upward, save for a decline that occurred about 6 months ago.
Below is a chart showing AUDCHF’s price with its moving averages.
As for assets in the Forex asset class AUDCHF has been correlated to over the past week, it has demonstrated the strongest correlation with AUDUSD. AUDCHF has been most correlated with AUDUSD over the past 14 days also, so this may be a recurring pattern. Alternatively, the asset least correlated with AUDCHF over the past week has been CADJPY, but if we observe the prior two weeks, the asset least correlated with AUDCHF has been USDJPY. 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.
As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern.
The closest is the 200 day average, which is 56.4 pips away.
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.
This imputes a buy/sell ratio of 0.8, which is neutral.
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
The closest is the 200 day average, which is 5.9 pips away.
The closest is the 20 day average, which is 75.5 pips away.