CAD/CHF Up 15 Pips On 4 Hour Chart, Moves Up For the 5th Day In A Row; is Inching Close to 20 and 50 Day Averages

CAD/CHF 4 Hour Price Update

Updated June 23, 2020 01:10 PM GMT (09:10 AM EST)

The back and forth price flow continues for CAD/CHF, which started the current 4 hour candle off at 0.7006, up 15 pips 0.21% from the last 4 hour candle. Compared to its peers in the Forex, CAD/CHF gave its buyers a return that ranked 5th in terms of percentage change since the last 4 hour candle.

CAD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

CAD/CHF is up 6 pips (0.08%) since the previous day (opening today near 0.70139), marking the 5th day in a row an increase has occurred. Compared to its peers in the Forex, CAD/CHF gave its buyers a return that ranked 18th in terms of percentage change since the previous day. The price chart of CAD/CHF below illustrates.

CAD/CHF Technical Analysis

The first thing we should note is that CAD/CHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 50 day average, which is 32.3 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days CAD/CHF’s price has gone up 8 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on CADCHF, with 3 buy signals on our radar and 9 sell signals. This imputes a buy/sell ratio of 0.33, which is bearish. As for the rationale, technical traders seem to be citing the appearance of channel and fibonacci technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

After breaking the ascending channel, price consolidated underneath. After the break of the short trend line, will look for break of the support and then a retest