CADCHF Down 3 Pips Over Past Hour, 3 Day Down Streak Snapped; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated November 12, 2021 5:15 GMT)

Currently, CADCHF’s rate is down -3 pips (-0.04%) from the hour prior. CADCHF has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

CADCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 3 down days, CADCHF snaps its streak, rising 18 pips (0.24%) over the past day to close at an exchange rate of 0.73387. Relative to other instruments in the Forex asset class, CADCHF ranked 11th the previous day in terms of percentage price change. Let’s take a look at price chart of CADCHF.

CADCHF

CADCHF Technical Analysis

Notably, CADCHF crossed above its 100 and 200 day moving averages yesterday. 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 200 day average, which is 0.7 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 30 days CADCHF’s price has gone down 17 them.