CAD/CHF Down 3 Pips On 4 Hour Chart, is Inching Close to 20 and 50 Day Averages; Pin Bar Pattern Appearing on Chart

CAD/CHF 4 Hour Price Update

Updated July 02, 2020 01:14 AM GMT (09:14 PM EST)

CAD/CHF is down 3 pips (0.04%) since the previous 4 hours (opening the current 4 hour candle near 0.6958), marking the 3rd candle in a row it has gone down. Relative to other instruments in the Forex asset class, CAD/CHF ranked 20th the previous 4 hours in terms of percentage price change.

CAD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for CAD/CHF, which started today off at 0.69601, up 1 pips 0.01% from the day prior. Compared to its peers in the Forex, CAD/CHF gave its buyers a return that ranked 17th in terms of percentage change since the day prior. Let’s take a look at price chart of CAD/CHF.

CAD/CHF Technical Analysis

Notably, CAD/CHF is now close to its 20, 50 and 100 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 20 day average, which is 18.6 pips away. Volatility for CAD/CHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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 30 days CAD/CHF’s price has gone up 18 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.