- The AUD/CHF pair is currently in a downtrend, as it has been making lower highs and lower lows since September 2023. The pair is trading below the 50-day and 200-day moving averages, which are also sloping downward⁷.
- The on-balance volume (OBV) indicator shows that the selling pressure is stronger than the buying pressure, as the OBV line is declining and diverging from the price action. This suggests that the sellers are in control and that the downtrend is likely to continue⁸.
- The average directional index (ADX) indicator measures the strength of the trend. The ADX line is above 25, indicating a strong trend, and the negative directional indicator (-DI) is above the positive directional indicator (+DI), indicating a bearish trend⁸.
- The Aroon oscillator is a momentum indicator that measures the difference between the Aroon up and Aroon down lines. The Aroon oscillator is below zero, indicating that the downtrend is dominant and that the bearish momentum is increasing⁸.
- The moving average convergence divergence (MACD) indicator is a trend-following and momentum indicator that shows the relationship between two moving averages of the price. The MACD line is below the signal line and both are below zero, indicating a bearish bias and a negative momentum⁸.
- The relative strength index (RSI) indicator is a momentum indicator that measures the speed and change of price movements. The RSI is below 50, indicating that the bears have the edge and that the price is oversold⁸.
- The stochastic oscillator is a momentum indicator that compares the closing price of a security to its price range over a given period of time. The stochastic is below 20, indicating that the price is oversold and that the downward momentum is strong⁸.
Based on these indicators and signals, the AUD/CHF pair is likely to continue its bearish trend and may face resistance at the 0.5779 level and support at the 0.5634 level⁷. However, traders should also be aware of the potential for a reversal or a correction, especially if the price breaks above the downtrend line or if the indicators show signs of bullish divergence or oversold conditions. Traders should also use other tools, such as chart patterns, candlestick patterns, and Fibonacci retracements, to confirm their analysis and entry and exit points.
Source: Conversation with Bing, 10/11/2023
(1) Bearish Patterns — Indicators and Signals — TradingView. www.tradingview.com/scripts/bearish/.
(2) 7 Technical Indicators to Build a Trading Toolkit - Investopedia. www.investopedia.com...lysis-tools-4773275.
(3) 1.00 AUD is equal to 0.57 CHF. bing.com/search?q=audchf+c...
(4) AUDCHF Chart, Rate and Analysis — TradingView. www.tradingview.com/symbols/AUDCHF/.
(5) AUD CHF Chart - Investing.com. www.investing.com/cu...ncies/aud-chf-chart.
(6) Australian Dollar to Swiss Franc Exchange Rate Chart | Xe. www.xe.com/currencycharts/?from=AUD&a...
(7) AUD/CHF Price Chart & Exchange Rate History - eToro.. www.etoro.com/markets/audchf/chart.
(8) AUD/CHF - Live Rate, Forecast, News and Analysis - DailyFX. www.dailyfx.com/aud-chf.
(9) Candlestick Bearish Reversal Patterns - StockCharts.com. school.stockcha...ts.com/doku.php?id=chart_a...
(10) Decoding Technical Analysis Indicators for Bear Markets. www.thales-ld.com/de...s-for-bear-markets/.
(11) Must Know Technical Indicators in The Bearish Market!. tradebrains.in/techn...in-bearish-markets/.
- The on-balance volume (OBV) indicator shows that the selling pressure is stronger than the buying pressure, as the OBV line is declining and diverging from the price action. This suggests that the sellers are in control and that the downtrend is likely to continue⁸.
- The average directional index (ADX) indicator measures the strength of the trend. The ADX line is above 25, indicating a strong trend, and the negative directional indicator (-DI) is above the positive directional indicator (+DI), indicating a bearish trend⁸.
- The Aroon oscillator is a momentum indicator that measures the difference between the Aroon up and Aroon down lines. The Aroon oscillator is below zero, indicating that the downtrend is dominant and that the bearish momentum is increasing⁸.
- The moving average convergence divergence (MACD) indicator is a trend-following and momentum indicator that shows the relationship between two moving averages of the price. The MACD line is below the signal line and both are below zero, indicating a bearish bias and a negative momentum⁸.
- The relative strength index (RSI) indicator is a momentum indicator that measures the speed and change of price movements. The RSI is below 50, indicating that the bears have the edge and that the price is oversold⁸.
- The stochastic oscillator is a momentum indicator that compares the closing price of a security to its price range over a given period of time. The stochastic is below 20, indicating that the price is oversold and that the downward momentum is strong⁸.
Based on these indicators and signals, the AUD/CHF pair is likely to continue its bearish trend and may face resistance at the 0.5779 level and support at the 0.5634 level⁷. However, traders should also be aware of the potential for a reversal or a correction, especially if the price breaks above the downtrend line or if the indicators show signs of bullish divergence or oversold conditions. Traders should also use other tools, such as chart patterns, candlestick patterns, and Fibonacci retracements, to confirm their analysis and entry and exit points.
Source: Conversation with Bing, 10/11/2023
(1) Bearish Patterns — Indicators and Signals — TradingView. www.tradingview.com/scripts/bearish/.
(2) 7 Technical Indicators to Build a Trading Toolkit - Investopedia. www.investopedia.com...lysis-tools-4773275.
(3) 1.00 AUD is equal to 0.57 CHF. bing.com/search?q=audchf+c...
(4) AUDCHF Chart, Rate and Analysis — TradingView. www.tradingview.com/symbols/AUDCHF/.
(5) AUD CHF Chart - Investing.com. www.investing.com/cu...ncies/aud-chf-chart.
(6) Australian Dollar to Swiss Franc Exchange Rate Chart | Xe. www.xe.com/currencycharts/?from=AUD&a...
(7) AUD/CHF Price Chart & Exchange Rate History - eToro.. www.etoro.com/markets/audchf/chart.
(8) AUD/CHF - Live Rate, Forecast, News and Analysis - DailyFX. www.dailyfx.com/aud-chf.
(9) Candlestick Bearish Reversal Patterns - StockCharts.com. school.stockcha...ts.com/doku.php?id=chart_a...
(10) Decoding Technical Analysis Indicators for Bear Markets. www.thales-ld.com/de...s-for-bear-markets/.
(11) Must Know Technical Indicators in The Bearish Market!. tradebrains.in/techn...in-bearish-markets/.