EUR/CHF Down 2 Pips Over Past Hour, Came Into Today Down For the 2nd Day In A Row; Eyes 200 Day Average

Hourly Update

(Last Updated May 12, 2022 1:39 GMT)

At the moment, EURCHF’s rate is down -2 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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.

EURCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURCHF is down 35 pips (0.34%) since yesterday (opening today near 1.04529), marking the 2nd day in a row a decrease has occurred. Compared to its peers in the Forex, EURCHF gave its buyers a return that ranked 27th in terms of percentage change since yesterday. Here is a price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

Coming into today EURCHF is now close to its 20, 50, 100 and 200 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 200 day average, which is 45.8 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 14 days EURCHF’s price has gone up 8 them.