CAD/CHF Price Recap
CAD/CHF enters today at 0.74755 in US dollars, up 0.38% from the day prior. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 0.18% from the day prior, and up 15.27% from the same day the week before. Relative to other instruments in the Forex asset class, CAD/CHF ranked 2nd yesterday in terms of percentage price change. 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 averages, located at 0.75, 0.75, 0.75 and 0.75 respectively, and thus may be at a key juncture along those timeframes. Volatility for CAD/CHF has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 14 days CAD/CHF’s price has gone down 8 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!