EUR/CHF Up 9 Pips, in a Downtrend Over Past 90 Days; Nears 20 Day Moving Average

EUR/CHF Price Recap

1.06275 (USD) was the opening price of the day for EUR/CHF, resulting in yesterday being a day in which price moved up 9 pips 0.08% from the day prior. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 7.89% from the day prior, and up 253.91% from the same day the week before. Out of the 40 instruments in the Forex asset class, EUR/CHF ended up ranking 17th for the day in terms of day-over-day price change. The price chart of EUR/CHF below illustrates.

EUR/CHF Technical Analysis

Notably, EUR/CHF is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 21 out of the past 30 days.

A final note on correlations: over the past 7 days, EUR/CHF has been most correlated with EUR/SEK — a common occurrence, given the presence of EUR in both currency pairs. As for pairs with the least correlation, that belongs to CHF/JPY over the past 7 days, but EUR/JPY over a two week period.