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Forex Trend Analysis Report
Prepared for you on Wednesday, May 8, 2024.
Australian Dollar/Chinese Yuan Renminbi Offshore (FOREX:AUDCNH)
Sidelines Mode (+55) - AUDCNH is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid AUDCNH?
MarketClub looks at technical strength and momentum to determine if the timing is right for AUDCNH.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
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MarketClub’s Trade Triangles for AUDCNH
The long-term trend has been DOWN since Apr 15th, 2024 at 4.660625
The intermediate-term trend has been UP since May 5th, 2024 at 4.778035
The short-term trend has been DOWN since May 8th, 2024 at 4.749895
Smart Scan Analysis for AUDCNH
Based on our trend formula, AUDCNH is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 4.753065 | 4.759535 | 4.742660 | 4.756145 | +0.003080 |
| Prev. Close | Volume | Bid | Ask | Time |
| 4.753065 | 2024-05-08 23:40:42 |