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 42.8 pips away.
As for the rationale, technical traders seem to be citing the appearance of a double top technical pattern.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
On a relative basis, audchf was the worst performer out of all 39 of the assets in the forex asset class.
It’s been a feast for bears operating on an hourly timeframe, as audchf has now gone down 8 of the past 10 hours.
This is a reversal of the price action on the previous hour, in which price moved down.
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.