(Last Updated April 8, 2021 3:17 GMT)
At the time of this writing, CADCHF’s rate is down -1 pips (-0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
CADCHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
CADCHF is down 33 pips (0.45%) since yesterday (opening today near 0.73681), marking the 3rd straight day a decline has happened. Relative to other instruments in the Forex asset class, CADCHF ranked 30th yesterday 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 the current price of CADCHF is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for CADCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. For additional context, note that price has gone up 7 out of the past 14 days.