(Last Updated June 13, 2022 1:36 GMT)
At the time of this writing, CADCHF’s rate is up 12 pips (0.16%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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)
CADCHF is down 5 pips (0.06%) since the day prior (opening today near 0.772), marking the 2nd consecutive day it has gone down. Relative to other instruments in the Forex asset class, CADCHF ranked 15th the day prior in terms of percentage price change. Let’s take a look at price chart of CADCHF.
CADCHF Technical Analysis
The first thing we should note is that CADCHF is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving 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. For additional context, note that price has gone up 21 out of the past 30 days.