CAD/CHF Down 5 Pips in Last 4 Hours, Price Base in Formation Over Past 14 Days; Eyes 20 and 50 Day Averages

CAD/CHF 4 Hour Price Update

Updated May 25, 2020 09:09 PM GMT (05:09 PM EST)

CAD/CHF entered the current 4 hour candle at 0.6945, down 5 pips (0.07%) from the previous 4 hours. Compared to its peers in the Forex, CAD/CHF gave its buyers a return that ranked 35th in terms of percentage change since the previous 4 hours.

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 0.69325, up 2 pips 0.03% from the previous day. Out of the 40 instruments in the Forex asset class, CAD/CHF ended up ranking 14th for the day in terms of price change. Let’s take a look at price chart of CAD/CHF.

CAD/CHF Technical Analysis

The first thing we should note is that the current price of CAD/CHF is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 16.7 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 5 out of the past 10 days. Also, candlestick traders! Note we see doji pattern appearing here as well.

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 5 sell signals. This imputes a buy/sell ratio of 0.6, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com that we thought you might enjoy.